London Bay Homes closes on 55-acre property adjacent to Naples Grande Golf Club

NAPLES, Fla. (June 14, 2016) – London Bay Homes today closed on a 55-acre parcel of land that adjoins the Naples Grande Golf Club on Golden Gate Parkway, between Airport Pulling Road North and Livingston Road. The parcel – part of the Grey Oaks Planned Unit Development near downtown Naples – was priced at approximately $34 million.

Mark Wilson, president and CEO of London Bay Homes, said, “This transaction represents a significant and exciting opportunity for our company, as this parcel is one of the very last and best large-scale properties in the heart of Naples. Later this summer, we will announce plans for the project, which will include residences with spectacular lake and golf course views.”

When developed by London Bay Homes, the property will include up to 250 residences with a total projected revenue of over $300 million. “I would like to thank the due diligence team that has worked on this for over six months – it was a great team effort,” Wilson said.

A leader in the Southwest Florida luxury home market for 25 years, London Bay Homes has been named America’s Best Builder by Builder magazine. The company builds new luxury custom homes priced from $1 million to more than $10 million in many of the region’s most exclusive neighborhoods and communities. The company also builds private residences on individual homesites near downtown Naples, the Sarasota Keys and along the Gulf of Mexico. For more information about London Bay Homes, call 239-592-1400 or visit www.LondonBay.com.