London Bay Homes and Bonita Bay Group sign agreement for Mediterra purchase

Bonita Bay Group and Naples-based luxury builder London Bay Homes have signed a definitive agreement for the sale and purchase of the remaining 50 single-family home and villa lots in Mediterra, a private upscale golf community in North Naples.
This announcement follows last week’s milestone agreement for the members of The Club at Mediterra to purchase the club assets, including its two golf courses, golf learning center, clubhouse, beach club and sports club.
London Bay President Mark Wilson, whose company will assume the sales and marketing operations at Mediterra, said the agreement to acquire the lots brings further clarity to the future of the Mediterra community.
“Mediterra has always been one of the premier golf communities in Naples and this agreement, coupled with the golf club agreement, should serve to give prospective home buyers great confidence that they are buying into a financially strong community and club,” he said in a statement. Wilson did not disclose the terms of the purchase, but indicated that the deal is expected to close in December.
Once closed, London Bay will own about 100 home sites in Mediterra.
London Bay is currently building custom homes and its signature villa and estate homes in two Mediterra neighborhoods – Cortile and Lucarno.
“London Bay Homes shares our vision for Mediterra and we are confident that they will protect the legacy of the community for its current and future residents,” said Gary Dumas, vice president of Bonita Bay Group.
Mediterra has been named Community of the Year by the Collier Building Association five times, received the Award of Excellence for Open Spaces from the Florida Chapter of the American Society of Landscape Architects and has been honored with the Environmental Leader in Golf Award from Golf Digest.
London Bay has operated in the Naples market since 1990 and has built custom homes in many of the area’s most exclusive neighborhoods and communities.
In 2008, the company was one of two companies that earned recognition as “America’s Best Builder” from the industry’s leading publication, Builder Magazine.
“Bonita Bay Group created a beautiful community at Mediterra. We look forward to building, carrying on this tradition and completing one of Naples’ most prestigious communities in a manner in which everyone will be proud,” Wilson said.
Mediterra includes two Tom Fazio-designed golf courses, a 25,000-square-foot clubhouse, sports club and beach club located along the Gulf of Mexico.(source: naples news 11-13-09)