Residential property developer London Bay Homes bought 30.5 acres of waterfront land in Bonita Springs for $12.75 million.
London Bay may develop a luxury senior housing development on the site that would be similar to its 83-acre Moorings Park at Grande Lake development in Naples.
Naples-based London Bay paid about $41,800 per acre for the land in Bonita Springs, which is adjacent to the 454-room Hyatt Regency Coconut Point Resort & Spa.
An affiliate of London Bay bought the 30.5-acre site at 23149 Weeks Fish Camp Road in Bonita Springs from a trio of limited liability companies: Donovan LLC, Estero Bay Marine LLC and Sugar Mountain Development LLC.
Randy Thibaut, president of Land Solutions Inc., a Fort Myers-based commercial property brokerage, arranged the transaction together with agent Doug Meschko and director of sales Justin Thibaut. [Business Observer] – Mike Seemuth