Landeavor, LLC Acquires The River Club From Crescent Communities
Developer's first land purchase in Atlanta market
ROSWELL, Ga., Aug. 30, 2016 /PRNewswire/ -- Landeavor, LLC, a residential real estate development company, announces the purchase of The River Club, the acclaimed private golf course community, from original developer Crescent Communities.
The purchase marks Landeavor's first acquisition in the Atlanta market and the return of executives Mr. David Frame and Mr. Adam Lorry to the development landscape in the metro area. Messrs. Frame and Lorry, former leaders of Terrabrook, at one time the largest real estate development company in the United States, previously developed Windward, Windemere and Laurel Springs.
The River Club, located in Suwanee, GA, is Landeavor's 10th acquisition and spreads the company's portfolio across nine markets throughout the Southeast and Texas.
"We're thrilled to own the last remaining land parcels in Atlanta's premier luxury home community," states Mr. Frame. "The River Club is an impeccable community. It is the perfect opportunity to not only continue to build upon the community's legacy but also to begin our market presence in Atlanta."
Mr. Frame continues, "Atlanta is an important step in growing our portfolio. The housing and employment economics are strong, the market continue to recover and we are extremely optimistic about the future."
Landeavor purchased the final 110 existing and future homesites with The River Club. The private, Greg Norman-designed golf course was not part of the transaction.
Landeavor plan to continue to sell homesites to the public as well as qualified luxury home builders.
"As the housing economy continues to recover, we're seeing increasing demand in the luxury price band," states Mr. Frame. "There are not many luxury home communities in the northern-Atlanta submarket with available inventory for today's buyers. The River Club is perfectly positioned to capture this demand."
Current homes are priced from $1.2 million; homesites begin in the high $100,000s. For more information, please visit www.riverclub.com.
About Landeavor, LLC: Landeavor, LLC is a residential real estate company with offices in Atlanta, Charlotte, Houston, Raleigh and Tampa. The company specializes in the development of residential communities either as principal developers or through joint ventures. Through Landeavor's distinct capital alliances, Landeavor is uniquely positioned to invest in or develop a variety of planned communities in any stage of development. For more information, visit www.landeavor.com.
Contact: Jim Hughes, 919 601 8252
SOURCE Landeavor, LLC
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