Saltwater Palms

Project Description

Acquisition:

• Saltwater Palms was discovered by our LDI A&D team and provided an opportunity for LDI to expand to the Ocean Isle Beach market.
• LDI had a vision to bring a low maintenance paired-villa style community to Ocean Isle Beach, with a prime location to a variety of restaurants, shops, grocery and the beach.
• This project was funded with a mix of private equity and institutional debt in the form of a traditional A&D loan.

Entitlement & Permitting:

• LDI led the charge on the 8 month process of establishing companies, performing diligence and securing all local approvals to position the horizontal team to move forward with the land’s highest and best use.

Horizontal construction:

• LDI Utilities performed all civil contracting and off-site DOT work to bring pad-ready lots to market.

Vertical Construction:

• The LDI team began entry signage and road construction at the start of the development, allowing prospective homeowners to feel the vision of the neighborhood upon driving into the community.
• As the exclusive builder for this development, Logan Homes began construction of these low maintenance townhomes was met with great success.

Sales and Marketing:

• Sales and marketing of this community was managed by Logan Homes, and sales have outpaced at every turn, with a waiting list for those looking to buy in the final phase of the community.

Disposition of Asset:

• With the final phase being released in early 2021, full sellout of this community will be achieved in 2021.

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