Loading
BUYER: The Moorings Inc. (principals: Daniel Lavender, Dr. John Little, Michael Weir, Denise Heinemann, Wilford Hecox, Kent McRae, Patricia Barton, Dr. Sherie Brezina, Michael Hole, Greg Russo and Daniel Spintman), Naples
SELLER: Fifth Third Bank
PROPERTY: a portion of Golden Gate Parkway east of Goodlette-Frank Road
PRICE: $12 million
PREVIOUS PRICE: $22 million, December 2005
LAW FIRM ON DEED: Zimmerman Kiser & Sutcliffe, PA, Orlando
PLANS, DESCRIPTION:
Naples-based Moorings Park purchased 22.41 acres of vacant land on the south side of Golden Gate Parkway for $12 million.
The price equated to $535,475 per acre.
In 2009, the properties' then owner, Caribbean Venture of Naples LLC, rezoned 21.99 acres from agricultural to planned development. Senior Care Development LLC petitioned to change the approvals for the property to create a continuing-care retirement community on the site. However, in July 2012, Fifth Third Bank foreclosed on the property.
“We have no current plans [to develop a retirement community],” says Dan Lavender, CEO of Moorings Park. “But we have a 10-year zoning window and plan to do something like it sometime in the future.”
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
