The Preserve at Roberts Island

Intracoastal Waterway / Jacksonville Beach, FL
Residential Subdivision Investment

Purchase
Landology purchased the bank note at substantial discount on this 7 acre property consisting of private and secluded residential land along the Intracoastal Waterway in Jacksonville Beach Florida. Landology was brought in to work through liquidation with the developer and lender. Once Landology acquired the note and the mortgage, it took a deed to the property in lieu of foreclosure. Fully entitled Intracoastal Waterway land in Jacksonville Beach is scarce. The Preserve at Robert's Island represents the remaining Intracoastal land for feasible residential development in the area. This unique site offers an upscale development opportunity in a proven market with demand for Intracoastal and Marsh front residential product.

Value Creation
Prior to closing, Landology secured necessary land entitlements and the Formal Development Order was approved. Landology worked to create the opportunity for up to 12 large, single-family estate size lots with six exterior lots having tidal access along the Intracoastal Waterway and six interior lots having Intracoastal and Marsh views.

Anticipated Liquidation
Landology is completing the horizontal infrastructure. This property will sell in a bulk sale to a take-out developer or represent an attractive development opportunity for Landology. Currently, a take-out option is in place with a proven local developer reflective of market interest in the site. Liquidation timing for this asset is projected in 2012/2013.