LOFTON ISLAND HOLDINGS ACQUIRES OASIS GRAND CONDOS IN BULK SALE IN FLORIDA

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FORT MYERS, FLA. — Lofton Island Holdings, a joint venture that includes Southwest Properties and Nova Scotia, Canada-based Geosam Capital, has closed on the purchase of one of the two completed towers at Oasis Grand in Fort Myers. Located along the Caloosahatchee River, the 17-acre Oasis Grand is partially development, with two of its planned five condo towers complete. Lofton has purchased the 224 unsold units in the 240-unit Tower II, which Miami-based The Related Group completed in 2008. T. Sean Lance and John Burpee of NAI Tampa Bay handled the transaction behalf of Lofton Island Holdings. The seller was The Related Group. Terms of the transaction were not disclosed.

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