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Formation of LAGOinvest Florida

Fri, 21 Jan 2005 00:00:00 PST

Berlin: January 21st, 2005

* Today, Lagoinvest announces the formation of LAGOinvest Florida partnership LLC.,which acquired 41 acres consisting of a golf course in a prime residential community in Bradenton, FL.

* Bradenton ranks in the top cities for growth in the US.

* LAGO plans to build a high quality community consistent with the existing residential area where the golf course lies, the name of the area is called Village Green.

* LAGO looks to build 200 homes on the site.

* For more information contact Scott Clark @ 941 962 1997 or email: scottclark@lagoinvest.com. President of LAGOinvest Florida.

Village Green sells for $5 million

Thu, 10 Feb 2005 00:00:00 PST

BRADENTON --- The former Village Green Golf Course has been sold again. Just three months after a real estate developer paid $1.8 million for the golf course to build more than 200 single family homes, Lagoinvest Florida LLC purchased the 42-acre property for $5 million, according to a company official.

Lagoinvest Florida, a newly formed subsidiary of Lagoinvest, an international real estate investment group, plans to build fewer than 200 detached single family homes on the property, as opposed to the 216 attached-home plan the company inherited with the sale, said Marshall Gobuty, a Lagoinvest principle.

"By bringing the number down, we’re going to detached (single family homes) because it’s very consistent with the area," Gobuty said. "We’ll be very happy with the lower number of detached (homes)."

The units are estimated to start in the $275,000 to $300,000 price range, in line with home values in the area, Gobuty said.

He estimates the company will invest about $38 million to develop the property.

The company expects to begin the approval and permitting process between March and April. Gobuty estimates that groundbreaking will take place in late fall, around the same time the development’s selling season begins. Gobuty expects the 1,500- to 1,900- square foot homes to sell in stages.

Owners could begin moving into the homes as early as the summer of 2006, Gobuty said.

Reynold Glanz, who bought the property from course owners Jack Watson and Bernard Blee in October, said the price offered by Lagoinvest prompted the fast sale, not because of any problems developing a building plan with the local community and Village Green Homeowners Association.

"The numbers were just too good." Glanz said. "They gave me an offer I couldn’t refuse."

He added, "I still have remorse. They’re really nice people (the association) to work with. But it was just an unbelievable deal."

Gobuty said that he will continue working with the association throughout the planning process to achieve a look that pleases everyone.

"We want it to look like a newer community within a community." Gobuty said. "We don’t want it to look like a sore thumb. The integrity of Village Green will be kept."

Gobuty believes that florida’s population and business growth makes the area an arrractive place for real estate development --- especially since Bradenton.

"Bradenton is one of the fastest-growing communities in the country," said Gobuty, who has spent a lot of time in the country recently because his daughter attends IMG Academy.

Lagoinvest was founded in 2003 and has offices in Hong Kong, Tel Aviv and Berlin. The company is currently developing properties in Thailand and China. The Florida subsidiary is close to securing additional property in Manatee and Reed countries, Gobuty said.

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Village Green plans altered

Sat, 05 Nov 2005 00:00:00 PST

BRADENTON - Village Green officials may have found a development that they like for their golf course.

They blasted a developer’s previous plans to build on the former golf course, nestled in the middle of their west Bradenton subdivision. But Roger Smith, president of the Village Green Homeowners Association, said neighborhood officials who saw the latest plan, for the most part, were impressed.

Smith said the new plan addresses concerns raised by Village Green residents over developer Lagoinvest Florida’s previous plans. The new plan, named The Seasons at Village Green, preserves more green space, puts fewer homes on the former golf course, offers more building designs and improves drainage, he said.

"I feel very good that the Lago people immediately made contact with us after the last meeting and seemed to be very interested in getting our input," Smith said. "They responded to us and I think it’s a win-win for everybody."

Smith said a committee of between 15-20 Village Green residents worked with Lagoinvest on its new plan. Details of the new site plan were published in the association’s monthly newsletter Friday.

The new plan calls for 149 single-family detached homes, 12 homes fewer than the last plan. The homes average about 1,800 square feet of living space and 2,500 square feet total under one roof - almost identical to the subdivision’s existing homes.

Planned amenities include a walking trail along the project’s perimeter for all Village Green residents, a gated entrance, private roads and extensive landscaping chosen with the help of current residents.

Scott Clark, president of Lagoinvest, said the plan’s density of about 3.5 units per acre falls far short of the allowable 10 units per acre.

Clark added that Lagoinvest hired Zoller Najjar & Shroyer LC, the engineer that helped design the Village Green development in the 1970s.

The plan is expected to go before the Bradenton Planning Commission in December for a first public review, then the city council in January. Clark said he hopes to break ground in April with a roughly two-year buildout.

City planners and residents criticized earlier site plans, and the commission rejected one version at its July meeting. More than 900 Village Green residents signed a petition asking the commission to reject it.

Clark said he enjoyed working with the community, despite the previous negative reactions.

"It’s their neighborhood," he said. "You have to take them into consideration. I predict we’ll have a number of buyers who are currently in Village Green."

Bradenton resident Jack Watson sold the 42-acre golf course after 25 years of ownership to a real estate investor in October 2004. Lagoinvest bought the land earlier this year for $5 million.

The overwhelming majority of residents want the land to stay a golf course, but many admitted that’s unlikely because they expect someone to build on it. But they said they want a developer to restrict homes to single-family, one-story houses with designs compatible with the rest of the community.

Tim W. McCann, Bradenton and Palmetto city government reporter, can be reached at 745-7080, ext. 2620, or at twmccann@heraldtoday.com.

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Village Green plan up for review

Wed, 21 Dec 2005 00:00:00 PST

BRADENTON - A plan to turn a former golf course into a housing development heads to planners today for a second time.

The Bradenton Planning Commission, along with residents of the Village Green subdivision, rejected developer LagoInvest Florida's original site plan in July. But LagoInvest's latest revisions have apparently satisfied most of the opposition.

The plan for The seasons at Village Green calls for 142 single-family detached homes, 17 fewer homes than previously planned. The houses will average about 1,800 square feet of living space and 2,500 square feet total under one roof, similar to the existing homes in Village Green.

Village Green officials said, "the new plan addresses concerns residents had about green space, the number of homes, building designs, and drainage." Amenities include a walking trail along the project's perimeter for all Village Green residents, a gated entrance, private roads, and extensive landscaping.

LagoInvest bought the 42-acre, former golf course, nestled in the heart of the Village Green subdivision, earlier this year for $5 million.

Also, on the commission's agenda are requests to build a 36-unit senior housing apartment at 104 17th Ave. W., a rezoning and future land use amendment change to the 230-acre Mixon property, to put it under city jurisdiction, and a request to operate a day care center at 1300 Manatee Ave. E.

Acquisition of a real estate and construction company in Europe

Thu, 05 Jan 2006 00:00:00 PST

* Total assets exceeding 350,000 sq. m. of office buildings
* Properties include light industrial and logistic properties
* Land Bank of 400,000 sq. m. for the development, 200,000 sq. m. in next 5 yrs.
* Well known and active construction company with an impressive track record
* Acquisition price: € 250 million; current value € 400 million

Acquisition of Prime beach property in Phuket Thailand

Thu, 05 Jan 2006 00:00:00 PST

* Acquired land under market value, 18 acres
* Developing zoning for luxury villas and apartments as well as retail
* Co-branding with leading hotel
* Phase 1 of the development is almost completely sold
* Phase 2 begins selling January 2005

Development of approx. 500K sq. m. for mixed use in Central Europe

Thu, 05 Jan 2006 00:00:00 PST

* Expected investment: approx. € 350 million; total expected revenues: € 600 milion

Natai Beach selling beachfront lifestyle

Mon, 09 Oct 2006 00:00:00 PDT

Thailand Property Report
Natai Beach selling beachfront lifestyle
http://www.property-report.com/archives.php?id=677&date=0610
Asia Property Report

A developing area in Phang Nga province, just 10 minutes north of Phuket, is rousing the interests of builders and buyers looking for the ever elusive paradise swath of beach. Natai Beach, a 2km stretch of practically untouched beachfront, is set to become one of the most exclusive seaside addresses in Thailand, according to local agents and developers.

"Natai is what we like to term an absolute beachfront property," said Nick Anthony of Indigo Real Estate, the Phuket outfit that has been promoting Natai for about 2 years. "Unlike Phuket, which was developed with commercial zones built back from a beach road, Natia will be developed for residents, as the access road is built a good distance back from the beach."

Anthony said that this will allow private structures that go right up to the sand. "When people think about moving to Thailand the first thing they think about is beach front. This is difficult to find in Thailand. Natai sells this type of lifestyle."

Anthony explained that this former shrimp farming community is taking off big time with perspective buyers coming in from all corners. He said that in the past two years over 50% of the beachfront properties have been snapped up by private developers, and prices are rising to be in line with Phuket at Bt15 million/rai for seaview lots.

He also said that the beach has attracted an eclectic assortment of world-class architects who are designing small developments that are geared away from the low-end tourist trap, and cater wholly to the very high-end buyer that wants privacy.

"Private homes and small condo developments are being built by architectural firms such as Original Vision, Tucker Bishop and Branko, to name a few," said Anthony. "A good percentage of private residences are being built at US$2 million and up."

One development, the Natai, presents a mixture of beach and ocean view villas and ocean view lofts. It is designed by Paul Raff Studio, an internationally-recognised leader in architecture, design and strategic planning. Units will include private elevators, floor to ceiling glass to maximize the ocean views, expansive front and back terraces and garden walls as a barrier against the tropical heat.

"It's not the site that finds the architect, it's the developer," said Raff. "And developers in Natai are pretty much sparing no expense in finding international architects that will join their vision of highlighting an amazing real estate product."

Raff, who has had a hand in redeveloping Barcelona's waterfront, and has led the designing of the present Chinese Vice-President's house, swears by Natai Beach's stunning scenery. "There is a lot here that will attract up-market developers and architects. Once The Natai is built (its launch date is slated for November) you will see a lot more top-class developers and architects doing the same sort of thing."

He also mentioned that good golf courses and the international airport at Phuket, is a huge investment draw. Raff also noted that the beach will do well catering to the growing amount of well-to-do tourists who want peace and quiet away from the racy action and bar scene in Patong.

"We're making the most of the space at The Natia," he said.

Another development that is up and underway is the Aleenta Phangnga, the second sister property of Aleenta Pranburi, muted as Thailand's first boutique hotel.

With just 15 suites and 15 villas, most units offer private plunge pools. One of the first developments to take off on the beach, its official launch is scheduled for this month.

"When we started the surveying for the second Alleenta, we were looking for a piece of land that was away from it all. No noise, yet close enough to all Phuket's facilities. We found this at Natai Beach," said General Manager and MD Anchalika Kijkanakorn.

"Phase one and phase two are completely sold out. We may build a phase three," she said describing the tremendous success they have had with this property. Villas that sold for Bt35 million a year ago are now selling for Bt48 million.

"A year from now, all along the beach there will only be houses, condos and villas that are worth from one million dollars and up," said Kijkanakor. "The beach is just the right size that there will never be enough land or people to welcome go-go bars or discos. But it's big enough that you will never see anybody on the beach. Natai is for small crowds of people, or families."

"Natai is development for residences," said Indigo's Anthony, whose company has been the main agent responsible for turning over properties. "Everything that has become available along the beach has been snapped up immediately."

"And with a boat pier being built at the northern tip of Natai to accommodate pleasure craft and scuba boats going to diving-rich waters of the Similan Islands, it is only going to get better." Author Contact Info: Thailand Property Report
http://www.property-report.com

Government Confirmation: Lot and Land Number

Tue, 14 Jul 2009 00:00:00 PDT