Stock Development buys 15 home lots in Baywoods

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

SELLER: Baywoods at Bonita Bay LLC
PROPERTY: 26180, 26170,26160, 26150, 26140, 26130, 26120, 26110, 26161, 26171, 26181, 26191, 26090, 26100, 26080, 26081 and 26131 Woodlyn Drive, Bonita Springs
PRICE: $8.78 million
PREVIOUS PRICE: $7.3 million, January 1985
LAW FIRM ON DEED: Henderson Franklin Starnes & Holt PA, Bonita Springs

PLANS, DESCRIPTION:
Naples-based developer and homebuilder Stock Development purchased 15 lots in the second phase of the Baywoods community of Bonita Bay for $8.78 million.

The price equated to $585,000 per lot.

The property represents the final section for new home construction in the Bonita Bay Group-developed community.

“This was a very pristine section of Bonita Bay Group's flagship piece,” says Claudine Leger Wetzel, a spokeswoman for Stock Development. “Stock Signature Homes will have three models there ready in time for season.”

The homebuilder was previously a preferred builder in the first phase of the Baywoods community.

It plans to create homes on the estate lots ranging in size from 4,200 to more than 5,000 square feet and priced from more than $2 million.

The purchase entity, SD Baywoods LLC, mortgaged the property to Wells Fargo Bank National Association for $70 million.