Florida Land Development Project 2 / 54 Acre

ID#: JCS-1013
Funding Opportunity :: Project 1 :: Project 2 :: Developer Information

Company Quick Look:

Land Development Company Seeking Equity Investors for up to four projects in Florida

Profitable Company

Several Development Projects Underway - participate in one or all

3 year projects - in and out in 3 years or less

Deep experience with a crew of exceptional professionals

12 successfully developed projects already completed

High Growth Area

Prime Lots to Be Developed - entitlement 90% complete

All Lots Include Boat Docks & Water

West Coast of Florida, in massive growth area

Developer specializes in horizontal development - and taking projects through permitting. Then selling to others to do the building and actual lot development

Land Development Description:

Project 2:

  • An Italian Renaissance master planned private gated 54 acre single family luxury residential community including 72 single family lots, 56 private boat docks, a kayak/canoe park with barbecue facilities, and a village community center all with direct access to the Gulf of Mexico by way of canal.
  • Private entrance secured gated community with buffers from neighbors.
  • On a well maintained canal which flows to Estero Bay into the Gulf of Mexico.
  • Includes private boat docks, secluded protection, and access to Gulf of Mexico, with a private gated entrance, a walking path, and a community kayak/canoe park.
  • Located near one of the top resort growth areas in North America, near Fort Myers, FL on Ten Mile Canal.
  • One of the finest developable sites on the water in southwest Florida.
  • The project has all approvals and entitlements, and the horizontal infrastructure is 65% completed. We expect to be able to close lots by the end of the 2 nd Quarter of 2007
  • The project has 22 lot reservations with individuals and six pending contracts with high-end custom home builders.
  • The project requires finalizing a new first mortgage in the amount of + $32.1 million, which represents a 65% LTV amount, and an equity investment of $3.0 million to be used as a credit enhancement. The equity will be secured by a mortgage on the property and have a 15% preferred return. The Financial investor will also own 45% of the LLC developing the land. We expect to pay back the bank within 18 to 24 months, the Financial Investor within 24 to 30 months, and be financially out of the project within 36 months.
  • The projected total net operating income from residential lot and boat dock sales is expected to be between $18.4 million $21.9 million. This performance would result in a return of capital to the financial investor of between $12.3 million and $14.0 million including the original loan.

Illustration of the property development

 

NOTE: Detailed information on this seller is available to interested principals only. A professional and experienced M&A consultant will contact you directly with a request to provide documentation of financial qualification. After which you will be required to execute a Confidentiality Agreement / NDA.