Today it is reported in the Naples Daily News that London Bay Homes has reached an agreement to purchase 50 single-family and villa homes sites from the financially troubled Bonita Bay Group. London Bay Homes has been a long time builder of homes in Mediterra and sees this move as a long term commitment to the upscale high-end Mediterra development and to the current residents.
Bonita Bay has been actively marketing its amentity and recreation clubs for sale to raise capital. So far, they have reached an agreement with Shadow Wood at the Brooks to sell to the members the golf club and the Commons club. It was also reported today that the members of Mediterra are close to finalizing a deal of their own to purchase the golf club.