GreenPointe Developers And Cross Lake Partners Announce Closing Of Multiple Phases At Quay Sarasota Waterfront District

SARASOTA, Fla., Dec. 29, 2020 /PRNewswire/ -- GreenPointe Developers and Cross Lake Partners proudly announce multiple closings at Quay Sarasota, a new mixed-use waterfront neighborhood destination with residential, retail, hotel and office opportunities under construction along downtown Sarasota's waterfront.

Lennar Multifamily Communities (LMC) acquired 1.65 acres at the Quay, and Kolter Urban acquired 1.15 acres at the Quay from GreenPointe, the developer of Quay Sarasota. Development plans include luxury multi-family homes, condominiums and ground floor retail in Quay Sarasota.

"We are pleased to achieve this milestone at Quay Sarasota," said Ed Burr, President and CEO of GreenPointe Holdings, LLC. "Our firm has an unparalleled reputation for innovation, vision, and results in the creation of communities. Quay Sarasota is a scenic waterfront district offering luxury residential, upscale retail, hotel and office spaces, and vibrant public spaces."

At Quay Sarasota, LMC is building its first apartment community in the Sarasota market. Rising 12 stories, it will be comprised of 240 luxury multifamily homes with more than 13,000 square feet of ground floor retail space and abundant amenities. The community will include a top floor wine lounge, catering kitchen, cybercafé, resident lounge, golf simulator, business center, meeting rooms, and state-of-the-art fitness center. Plans for the community also include a resort-style swimming pool, outdoor cabanas, outdoor bar & grill, dog park, bike repair shop, storage and complimentary Wi-Fi in the common areas. Construction of the community is anticipated to begin in May of 2021 with completion of the first units by September of 2023.

"LMC is extremely excited to be involved in Quay Sarasota," said McCarley Davis, LMC's City President for Florida. "Our community will be the premier rental destination at the Sarasota Waterfront. Once completed, LMC's Sarasota development will be one of the most unique and sought-after rental communities on Florida's west coast."    

Kolter Urban's newest development at Quay Sarasota is Bayso, Sarasota. The 18-level condominium development will offer 149 luxury residences. Prospective buyers may choose from 11 innovative two- to three-bedroom plus den floor plans ranging from 1,600 to over 2,600 square feet and seven luxurious penthouses floor plans ranging from 2,500 to almost 4,000 square feet.

Each unique residence at Bayso has a spacious, open floorplan design with chef-inspired European kitchens, expansive terraces with glass balcony railings and luxurious Owner's suites. Residences will be appointed with a selection of designer-coordinated finishes, features and appliances allowing homeowners to personalize their residence. Condominiums will be priced from the $800,000s. Groundbreaking is planned for the second quarter of 2021 with expected completion by autumn of 2023.

"We are excited to bring Bayso to the incredible Quay Sarasota district," said Brian Van Slyke, regional president of Kolter Urban. "Bayso residents will enjoy living in a vibrant waterfront district with the best dining, entertainment and the arts lifestyle that Sarasota has to offer."

Bayso's amenities will include an elevated resort-style pool and spa deck with cabanas, entertainment areas and outdoor kitchen. Plans include a state-of-the-art fitness center, a personal training/flex studio and a Residents' Club Room with catering kitchen and club bar for entertaining. Bayso will have a private dog park and climate-controlled storage areas. Bayso will also have a dedicated lobby staff to service residents.

For those interested in an exclusive preview of Bayso, a preview gallery is located in the ground level of the Westin Hotel, at 100 Marine View Drive, Suite 101. The gallery will open on Jan. 15, 2021, in the Premier Sotheby's International Realty office located at 50 Central Ave, Suite 110.

Kolter Urban is currently developing The Ritz-Carlton Residences, Sarasota, slated for completion this year, immediately adjacent to Bayso Sarasota. Kolter Urban has experienced significant success at Quay Sarasota and has only two luxury residences remaining for sale at The Ritz-Carlton Residences.

The JLL Capital Markets' team, led by Manny de Zarraga, Maurice Habif and Simon Banke, represented Cross Lake Partners and GreenPointe in completing the sale to LMC.

Quay Sarasota is an entirely new vision – a 14-acre waterfront district that will offer a blend of luxury residential, upscale retail, boutique hotel, and state-of-the-art office space in a scenic waterfront setting of natural beauty, eclectic architecture and active public spaces.

For more information about the Quay Sarasota Waterfront District, visit QuaySarasota.com.

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About Quay Sarasota Waterfront District
The Quay Sarasota Waterfront District is an all-new destination overlooking the Sarasota Bayfront, in the heart the city's Arts and Culture District. Being developed by Jacksonville, Florida-based GreenPointe Holdings LLC, the Quay Sarasota Waterfront District will offer a carefully curated blend of luxury residential, upscale retail, boutique hotel, and state-of-the-art office space in a scenic waterfront setting of natural beauty, eclectic architecture and animated public spaces. The new 15-acre, mixed-use development on the downtown Sarasota Bayfront will feature an upscale destination environment with residential, retail, hospitality and office space overlooking a yacht basin with boat slips, a waterfront park and boardwalk. To learn more, visit www.quaysarasota.com.   

About GreenPointe Developers, LLC
GreenPointe Developers is the community and urban development division of GreenPointe Holdings with extensive real estate market data and analytical systems to rapidly assess real estate values and challenges.

The GreenPointe team has more than 140 years of collective experience in developing some of the most sought-after master-planned and condominium communities in the Southeast. The team creates and transforms residential and mixed-use communities into neighborhoods for today's homebuyer while providing lasting, sustainable value.

Having the utmost respect for the land, the GreenPointe team works diligently to protect and enhance nature's best assets. This thoughtful practice allows GreenPointe Developers to create and reenergize communities that provide for an enduring lifestyle where people want to live, work and enjoy recreation. 

More information is available at www.GreenPointeLLC.com or (904) 996-2485.

About Cross Lake Partners LP
Cross Lake Partners is an independent, privately held real estate investment firm with approximately $1 billion in assets under management. The founders have worked together since 2004 and collectively have more than 40 years of real estate investing experience across a broad array of real estate asset classes. Cross Lake pursues a value driven, disciplined approach to investing in the top 30 growth markets of the U.S.  For more information, please visit www.crosslakepartners.com.

About Lennar Multifamily Communities
Launched in 2011 by Lennar, LMC is a multifamily real estate development and operating company that has quickly grown to be among the nation's most active developers. The company builds innovative, quality high-rise, mid-rise and garden apartment communities across the US. Each community resonates with a distinct local vibe and creates unique living spaces mixed with signature perks.

About Kolter Urban
Headquartered in Delray Beach, Florida, and winner of numerous industry awards, Kolter Urban has introduced a vision for luxury that is continually raising expectations for homebuyers and establishing new standards for the industry. Kolter Urban has completed or is in the process of developing over $3 billion of residential projects including over 2,800 waterfront, water view and amenity-rich urban condominium and townhome residences. These exceptional residences are located in some of the most desirable locations in Florida and the Southeast, including the Palm Beaches, Fort Lauderdale, Sarasota, St. Petersburg, Tampa and Atlanta. For more information, please visit www.kolterurban.com.

About The Kolter Group
The Kolter Group is a diversified real estate development and investment firm that has invested in projects with expected value in excess of $15 billion. Headquartered in Delray Beach, Florida, the company is among the most experienced real estate investors in the Southeast, having executed investments across major asset classes and all stages of the development cycle. Kolter's portfolio of complementary businesses drives an entrepreneurial culture and allows the company to adapt to change and choose investments on a selective basis. Today, Kolter has over 850 team members across its affiliated business units in the southeastern United States and has created award-winning communities, luxury high-rise condominiums and branded hotels. For more information, please visit www.kolter.com.

About JLL
JLL is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

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SOURCE GreenPointe Developers, LLC