Compass Pointe

Project Description

Acquisition:

• Compass Pointe was raw land discovered in part by our LDI A&D team.
• LDI partnered with renowned local developer, Bert Exom, to bring to market a master planned community 27 holes of golf and several resort-style amenity locations. Compass Pointe quickly became one of the most sought-after new developments in the region providing an active adult lifestyle.
• This project was funded with a mix of private equity and institutional debt in the form of a traditional A&D loan.

Entitlement & Permitting:

• Our partnership was responsible for 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. The development team was able to entitle the project for 4500 units for the original master plan.

Horizontal construction:

• LDI Utilities performed the civil contracting and off-site DOT work to bring pad-ready lots to market for the first phase, bringing to market the first 125 home sites, with many phases to follow behind.

Vertical Construction:

• Our team began amenity and entrance construction at the start of the development, bringing the vision of the community to life, during the global financial crisis of 2008. LDI built many of the initial amenities that are still enjoyed to this day, including the award-winning clubhouse.
• The preferred builder team, Logan Homes and Leisure Homes, began with construction of one and two story single family homes to pioneering customers. The community opened with 20 fully-furnished model homes at the onset, allowing potential homeowners to fully envision the lifestyle offered within this gated community. Logan Homes built the first 121 homes in this community and is still a preferred builder in the community today.

Sales and Marketing:

• LDI funded and managed all marketing and sales for the first five years of this development. Through a sustained and well thought-out sales process, led by the onsite sales team, LDI saw great success in the sales and marketing of their homes and over 300 home sites.

Disposition of Asset:

• LDI sold their development interest in 2012, and to this day remain involved through Logan Homes, as part of Compass Pointe’s premier builder team. Compass Pointe is a smashing success with over 1,000 lots sold and another 750+ to go. LDI is proud to have its mark on one of the most premier master-planned developments in the region.

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