This press release replaces the press release disseminated November 23, 2022 at 4:15 PM ET. The press release contained a typographical error in the contact section. The corrected press release is below:
ORMOND BEACH, FL / ACCESSWIRE / November 23, 2022 / Geosam Capital is pleased to announce the sale of its planned 482-unit single-family residential subdivision, Colbert Landings, located in Palm Coast, Florida to Meritage Homes and Taylor Morrison.
The 293-acre property was acquired by Geosam in November 2020. During its ownership, Geosam worked closely with the City of Palm Coast, Flagler County School Board, St. Johns River Water Management District, Florida Department of Environmental Protection, among other agencies to plan and secure entitlements, permits and approvals for this development.
Geosam committed to preserve via a perpetual conservation easement, approximately 140-acres of pristine wetlands and uplands on-site. In addition, Geosam contributed to the cost of maintaining approximately 30-acres of wetlands off-site.
Future Colbert Landings residents will enjoy easy access to public amenities including major retailers, charming beachfront, golf clubs and state parks. Located just off I-95, the community is conveniently located 5 miles from Flagler Beach, 25 miles from St. Augustine, 35 miles from Daytona Beach and 55 miles from Jacksonville.
'Colbert Landings is a very exciting project, well-situated in Palm Coast, Florida. Securing all municipal approvals, consistent with our business plan, this turned out to be a very successful investment for Geosam, and we are proud of our team and our execution,' said Martin Pham, Chief Investment Officer at Geosam. 'We look for every opportunity to strengthen our portfolio while bringing people together to build more inspiring, sustainable communities. Meritage Homes and Taylor Morrison are excellent homebuilders, and we know the property will continue to thrive under their stewardship.'
About Geosam Capital
Geosam Capital is a private investment firm, focused on real-estate development and fostering sustainable community growth. Established 10 years ago, we are a family-owned company that creates long-term value, concentrating primarily on investments across the southeastern United States, with offices in our core markets: Florida, Georgia, Texas and North Carolina. Our current body of work includes master-planned subdivisions, residential, commercial, and mixed-use development (horizontal & vertical), single-family rentals (SFR), build-to-rent (BTR), property management, conversion (adaptive reuse), and more. Since inception, we have developed over 10,000 residential lots and have over $1 billion worth of projects completed or under development.
For more information, please contact Martin Pham, Chief Investment Officer at (386) 428-8448 or visit our website www.geosamus.com.
SOURCE: Geosam Capital
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