Medallion Homes buys most of Stone Walk

BUYER: Stone Walk LLC (principals: Carlos Beruff, Charles Tokarz and Annette Canny), Bradenton

SELLER: Cadence Bank NA

PROPERTY: lots 1-5, 7-19, 21, 22, 25, 26, 30, 32-39, 43-54, 56, 58-60 and 63-73, Stone Walk, a portion of Cobblestone Circle, Venice

PRICE: $1.1 million

LAW FIRM ON DEED: Porges Hamlin Knowles & Prouty PA, Bradenton

PLANS, DESCRIPTION: Bradenton-based Medallion Homes purchased 59 home lots in Stone Walk Preserve for $1.1 million.

The price for the lots located south of Venice Avenue equated to $18,644 per lot.

“We have been acquiring properties in anticipation of the market coming back in the next 24 months or so,” says Medallion Homes owner Carlos Beruff. “[This price] was all market driven. We had cash so we could move quickly.

Construction is scheduled to start in the next few days on a model home in the community.

The purchase entity Stone Walk LLC mortgaged the property to GKCB Mortgage for $1.1 million.<