GreenPointe Communities Announces Acquisition of Banyan Bay

GREENPOINTE COMMUNITIES ANNOUNCES THE ACQUISITION OF BANYAN BAY IN MARTIN COUNTY

STUART, Fla. (May 24, 2012) – GreenPointe Communities, the community development division of GreenPointe Holdings LLC, announces its acquisition of Banyan Bay in Stuart, Fla. Banyan Bay is a 250-acre gated, master-planned community in Martin County. Currently, there are 74 developed homesites and 231 future homesites for single family homes, townhomes and condominiums. The front entry gatehouse has been constructed and a clubhouse amenity with pool, spa, fitness center and a 29-slip marina are planned. Phase One is fully permitted and includes the first 74 fully constructed homesites.

“The community of Banyan Bay is a welcome addition to our growing portfolio of properties, which now encompasses almost 8,000 homesites,” said Grady Miars, President of GreenPointe Communities. “Traditionally, Martin County has been very restrictive on growth and Banyan Bay is one of the few areas approved for development, making the community a scarce and valuable asset.”

Banyan Bay is located south of downtown Stuart on South Kanner Highway just east of the intersection of the Florida Turnpike and Interstate 95. The location provides easy access to Miami and Palm Beach County. Martin County is part of the Treasure Coast and is known for its beaches and outdoor recreational opportunities.

GreenPointe Communities is a division of GreenPointe Holdings, LLC, a diversified holding company founded to create and develop communities throughout the Southeast. GreenPointe Communities operates in harmony with GreenPointe Homes and the infrastructure division, GreenPointe Pathways, to collaboratively finance, acquire, restructure, create, build and manage residential and mixed-use master-planned communities.

Banyan Bay is the latest asset purchase for GreenPointe Communities, adding 305 homesites to previously acquired properties located throughout Florida. The company now owns eight master-planned communities, two of which – Southern Hills Plantation in Brooksville and River Hall in Fort Myers – contain championship golf courses and 75 acres of commercial land. Belmont and Triple Creek in Tampa, Cedar Bay and Heron’s Walk in Jacksonville, and Amelia Walk in Fernandina Beach round out the GreenPointe asset holdings.

More information about GreenPointe Holdings, LLC, and its holdings are available by visiting www.GreenPointeLLC.com.

About GreenPointe Communities
GreenPointe Communities is the community development division of GreenPointe Holdings with extensive real estate market data and analytical systems to rapidly assess real estate values and challenges. Its mission is to acquire, create and transform residential and mixed-use communities into neighborhoods for today’s homebuyer while providing lasting, sustainable value.

GreenPointe Communities respects the land and works diligently to protect and enhance nature’s best assets. This thoughtful practice allows GreenPointe Communities to create and reenergize communities that provide for a sustainable lifestyle where people want to live, work and enjoy recreation.

GreenPointe Communities is currently acquiring, developing and transforming communities throughout the Southeast, including several in Jacksonville, Tampa, Brooksville and Ft. Myers.

More information about GreenPointe Communities is available at www.GreenPointeLLC.com.

Photography
1.) Grady Miars, President of GreenPointe Communities

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