The Kolter Group Acquires Seasons on Lake Lanier

WEST PALM BEACH, Fla., Feb. 8 /PRNewswire/ -- The Kolter Group, LLC, a West Palm Beach private investment firm focused on real estate development, investment and construction, has acquired Seasons on Lake Lanier, north of Atlanta in Gainesville, Georgia from Wachovia. 

(Photo:  http://www.newscom.com/cgi-bin/prnh/20100208/FL51124 )

The acquisition of Seasons on Lake Lanier includes 14 fully furnished model homes, 45 complete or partially complete homes, 169 developed lots, 147 partially developed lots and 290 approved-but-raw lots. There are also 30 boat slips on Lake Lanier.  Plans also include a large clubhouse amenity which is not yet built.  The purchase price was not disclosed.

"We are pleased to have acquired such a premier active adult development as our entree into the Atlanta market.  The residents have made extraordinary efforts maintaining the beauty of the community," shared Rick Covell, Sr. Vice President of The Kolter Group.

Kolter plans to initially focus on selling the existing inventory at the Lake Lanier property and then to continue to market the project as an active adult community, as originally planned.

"The Kolter Group looks forward to working with the existing residents and the City of Gainesville to complete the vision for this stunning lakeside community," Covell said.  

About The Kolter Group

The Kolter Group LLC (www.Kolter.com) is a private investment firm focused on real estate development, investment and construction. Since 1993, Kolter, as both sponsor and operator, has entered into over $9 billion of real estate transactions across multiple asset classes and geographies.  Kolter Homes, the home building company under The Kolter Group, LLC,  currently offers adult living communities Victoria Gardens in Orlando, PGA Village Verano in Port St. Lucie; single-family homes at Canopy Creek in Palm City, Tres Belle and Lost River Plantation in Stuart, The Oaks in Hobe Sound and Paloma in Palm Beach Gardens. Townhomes are available at Paloma and urban condos in downtown West Palm Beach are available at Two City Plaza. Homes are prices from the $200,000s to over $1 million. Visit www.KolterHomes.com for a complete listing of communities and homes available.

SOURCE The Kolter Group, LLC

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