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Investors buy home lots in Buckingham's Remington Oaks

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  • | 3:38 p.m. January 4, 2013
  • Commercial Real Estate
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BUYER: Remington Oaks 1 LLC, Remington Oaks 2 LLC, Remington Oaks 3 LLC and Remington Oaks 4 LLC (principal for all: Randy Thibaut), Fort Myers

SELLER: Riverview Homes (Remington Oaks 1, 2 and 4) and Shannon Danielle Pirron (Remington Oaks 3 and 4)

PROPERTY: a portion of Buckingham Road north of Orange River Boulevard, Fort Myers

PRICE: $201,923 (Remington Oaks 1), $201,923 (Remington Oaks 2) $121,200 (Remington Oaks 3), $137,400 and $343,269 (Remington Oaks 4)

LAW FIRM ON DEED: Bolaños Truxton PA, Fort Myers

PLANS, DESCRIPTION: An investor group managed by Randy Thibaut of Land Solutions Inc. purchased 52 one-acre homes in the Remington Oaks community for a total of $1.05 million.

The price equated to $20,192 per acre.

Remington Oaks is a partially developed community with 14 single-family homes. The investors purchased the remaining undeveloped home sites on Buckingham Road as an investment for the future.

“They are planning to wait for the market to recover,” Thibaut says. “It was a unique property originally developed by Ryland Homes. They later sold it, moving the assets to Riverview Homes. All they intend to do is to get the project cleaned up so they are prepared when the market for these home sites improves.”

Land Solutions also handled the transaction. The purchase was handled as a 1031 tax-deferred exchange.


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