The Real Deal Miami

Lawyer guides second Latitude Margaritaville land acquisition

Rafael Aguilar advised Minto on its 2,739-acre acquisition near Hilton Head
June 11, 2017 03:30PM

Rafael Aguilar

Rafael Aguilar, a Miami-based partner of law firm Shutts & Bowen, guided Minto Communities’ acquisition of land for its second age-restricted development under the Latitude Margaritaville brand.

Aguilar handled Minto’s acquisition of 2,739 acres in Hardeeville, South Carolina, near Hilton Head, where Minto plans to build more than 3,000 homes for residents 55 and older.

Earlier this year, Aguilar advised Minto on its acquisition of land in Daytona Beach for its first Latitude Margaritaville development.

“It is the second transaction in what is proving to be a very successful national platform for Minto’s Margaritaville-branded active adult communities in some of the nation’s most popular destinations,” Aguilar said in a prepared statement.

“This was Minto’s first major acquisition in the United States outside of Florida. We anticipated a number of issues due to jurisdictional differences, but we were able to complete the transaction in about six months,” he said.

Minto expects to start construction immediately at the South Carolina site and to open a sales center there by early next year.

The Latitude Margaritaville development in South Carolina will feature a resort-style swimming pool, fitness center and social hall, plus game and hobby rooms, tennis and pickleball courts, and indoor and outdoor dining.

Minto also will build a 72-acre retail center at the South Carolina site in partnership with Sutton Holdings. The retail center will feature a restaurant and grocery store as well as specialty stores and entertainment venues.