(Estero) Fort Meyers, Florida - Monopoly Group purchased from Regions Bank & PNC Bank a $36,300,000.00 distressed mortgage and notes secured by 68.91 acres of entitled residential development land. The property is part of the Villages of San Carlos DRI, located on the west side of the Three Oaks Parkway extension and I-75, north of Corkscrew Road, Estero, Florida.
The subject site is vested with 432 residential development units. Additionally, Monopoly Group purchased from a third party additional density development rights for up to 412 residential units, for a total of 844 residential units.
This complicated transaction took over four years to complete, as it was immersed in both State and Federal lawsuits involving six seperate litigants. The related parties spent over $7 million in legal fees since 2006. Simon C. Lipton, President and CEO of Monopoly Group successfully facilitated a settlement between all related parties, resulting in dismissal of all litigation.
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| Portofino Plaza, Homestead, FL |
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| Portofino Plaza |
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Homestead, Florida— Monopoly Group purchased from Regions Bank an $11,500,000.00 distressed loan secured by Portofino Plaza, Villa Portofino West, Homestead, FL. at a sigificant discount. Currently Monopoly is working with the original borrowers to restructure the debt and continues to operate the project.
37 individual office condo units totaling 55,391 square feet on 3.15 acres. The total mixed-use development consists of 143,558 square feet of Office, Retail, Restaurant and Theater located on Campbell Drive at the Florida Turnpike (SW 321th Street, Homestead, Florida)
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| Homestead, Florida - Monopoly Group purchased from Regions Bank the mortgage and note secured by Portofino Plaza, Portofino Plaza Retail, Homestead, FL
The retail center consits of 30,000 square feet mixed storefronts occupied by retail and dining venues.
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| Boardwalk at Viscaya Miramar, Florida |
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| Ventanas del Sol Homestead, Florida |
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Miramar, Florida - Monopoly Group purchased from Banco Popular N.A. the mortgage and note secured by Boardwalk at Viscaya, an awarding winning master planned community located in Miramar, FL. At the time of acquisition, the loan collateral consisted of 30 unsold units in a 72-unit condominium project together with 117 unbuilt units.
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| Homestead, Florida- Monopoly Group purchased from Banco Popular N.A. the mortgage and note secured by Ventanas at Homestead, an awarding winning master planned community located in Homestead, FL. At the time of acquisition, the loan collateral consisted of 19 finished single family residences and 54 finished lots.
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| L' Hermitage @ Heron Bay Coral Springs, FL SOLD |
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| L' Hermitage @ Heron Bay Coral Springs, FL SOLD |
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Heron Bay is a gated community with two 24 hour guard gated entrances. Residents enjoy country club amenities without having to join a private club. The Heron Bay Commons clubhouse offers a swimming pool, spa, fitness facilities, indoor racquetball court, saunas, 12 tennis courts and a club room available for residents events. The Plaza Del Lago Clubhouse is located next to the north entrance. It is a residents-only club with 30,000 square feet of amenities such as basketball, state of the art gym, aerobics classes, spa treatments, children’s play areas including a waterpark area and a grand resort style pool.
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| Monopoly Group affiliate purchased a 19.7 acre entitled development site from WCI Communities within the presigious Heron Bay golf course community (home of the Honda Classic). The subdivision was named L' Hermitage at Heron Bay and developed to accomodate 60 single family homes. The community consists of 60 one and two story single family, mediterranean style homes surrounded by the TPC Heron Bay golf course. 49 of the homes feature waterfront lots.
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| The Polo Club of Boca Raton, FL 110 Acres SOLD |
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| Monopoly Group assembled seven agricultural parcels from individual owners along Linton Boulevard and resold the properties to Rainberry Developers (Cenvil Development). The 110 acres were annexed into the master planned country club community The Polo Club of Boca Raton.
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| Polo Trace 530 Acres Delray Beach, FL SOLD |
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| 77 Acres Jensen Beach, FL SOLD |
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Monopoly Group assembled 530 acres of active farms from three seperate owners and resold the properties to Rainberry Developers (Cenvil Development). The properties became the luxury country club community "Polo Trace." Polo Trace has two par 72 golf courses, fifteen professional har tru tennis courts surrounded by a 30,000 square-foot club house. The community is comprised of 143 single family homes.
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| Monopoly Group purchased 77 acres fronting Jensen Beach Boulevard and backing up to the Savannahs. The 77 acres has 2,644 feet (1/2 mile) frontage on Jensen Beach Boulevard and is situated one mile east of the Treasure Coast Mall. Monopoly obtained a site plan allowing 360 residential units. The site was SOLD to a developer who ultimately sold the property to the State of Florida as preserve.
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