Rafael Aguilar, a partner at Shutts & Bowen's Miami office, recently closed on a second multi-million-dollar land purchase for client Minto Communities that will be developed as an active adult residential community under the LATITUDE MARGARITAVILLE brand.
Aguilar handled the deal for Minto, which consisted of 2,739 acres in Hardeeville, South Carolina, near Hilton Head. Earlier this year, Aguilar represented Minto in its first LATITUDE MARGARITAVILLE land deal in Daytona Beach, Florida.
"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,” said Aguilar. “This will be a significant development to the Hilton Head area of more than 3,000 homes, related retail and amenities. 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. We are happy to see a satisfied client.”
Minto Communities plans on breaking ground immediately, with the sales center opening targeted for early 2018. The second of its kind, the age-restricted, mixed-use development will resonate with the Jimmy Buffet inspired Margaritaville brand and include a resort-style pool, fitness center, social hall, game and hobby rooms, arts and learning programs, indoor and outdoor dining with signature food and beverage concepts, and tennis and pickleball courts. A 72-acre destination retail center, developed in partnership with Sutton Holdings, will feature a Margaritaville signature-concept restaurant, specialty stores, grocery store and entertainment venues.
About Shutts & Bowen LLP
Established in 1910, Shutts & Bowen is a full-service business law firm with more than 260 lawyers in its Fort Lauderdale, Miami, Jacksonville, Orlando, Sarasota, Tallahassee, Tampa and West Palm Beach offices. Learn more about Shutts & Bowen at www.shutts.com.