Stock Construction buys Mediterra home lots

BUYER: SD Mediterra LLC (principal: Brian Stock), Naples

SELLER: LB Mediterra LLC

PROPERTY: 16485, 16501, 16511, 16519 and 16537 Buonasera Court, Naples

PRICE: $1 million

PREVIOUS PRICE: $4.94 million, December 2009 (includes several additional lots)

LAW FIRM ON DEED: Cheffy Passidomo, Naples

PLANS, DESCRIPTION: Stock Construction, the homebuilding division of Stock Development, purchased five home lots in London Bay Homes' Mediterra community of Naples for $1 million.

The price equated to $200,000 per lot.

The homebuilder purchased the property because of the quality of the community and to add to its supply of larger homes, according to Claudine Leger-Wetzel, vice president of sales and marketing for Stock Development.

“We thought it was good opportunity to grow that end of the business,” she says.

Stock Construction will develop a 3,400-square-foot model on one of the lots and a speculative home on a second lot. Stock Construction is also now a preferred builder in the community.

Mediterra is a 1,700-acre community with two Tom Fazio-designed championship golf courses, a private beach club and a 25,000-square-foot clubhouse.