Lightning owner Vinik sells stake in $2B Water Street development

Jeff Vinik, the owner of the Tampa Bay Lightning and the mastermind behind the Water Street Tampa development, has sold his share of Strategic Property Partners, the real estate company behind the $2 billion project.

Vinik’s share of the company was sold to the Bill Gates-run fund Cascade Investment, which has been his partner on Water Street. Financial terms of the deal were not disclosed and Vinik will remain an adviser. The sale was announced Thursday in a press release.