8/4/08 – CBD Real Estate Investment LLC announced acqusition of several investment properties during the month of November 2009

Published August 4, 2008

FOR IMMEDIATE RELEASE

Celebration, FL — CBD Real Estate Investment LLC, the Celebration based real estate development, investment and consulting company, announced the sale of 130 acre of development land in Haines City to Jahna Industries. The $4.88 million dollar cash sale closed during the first quarter of 2008. The sales price equated to $37,500 per acre.

“Working with Jahna Industries was an absolute pleasure. They are one of the most honorable and trustworthy companies I have ever done business with, and if it were not for the lawyers, we could have closed that deal on a handshake”, said David Waronker, President of CBD. “Ron Johnson and Corby Myers approached me about their interest in the land, and in a matter of one hour we made a deal and closed shortly thereafter. These are good people and they represent one fine company”, continued Waronker

Jahna Industries, based in Lake Wales, plans to expand their current mining operations located on Route 544 near Robinson Road in Haines City. Currently, the company is working with the City, County and State to perfect the comprehensive management plan to allow for the expansion of their mining operations. They hope to expand their current mining operations onto their latest acquisition by the first quarter of 2009.

CBD is the owner of nine other Haines City properties encompassing another 530 acres between Hinson Road, Robinson Road, and Route 544. Currently, they have approvals for Phases I and III of the future “Liberty Bluff” housing development. Phase I, located between Roe Road off of Robinson Road, is 70 acres and approved for 210 single family lots. Phase III located on 50 acres and adjoins Phase I to the south of Robinson Road. It is approved for 160 single family homes. The final Phase IV is zoned for residential development, but is not yet entitled by Haines City. CBD is working with the County and City to design the expansion of Powerline Road and a sewerage pumping station on the land. Phase IV is located between Hinson Road and Roe Road.

“We are still working to complete our water and sewer permitting with water management and the State DEP. Once complete, we will be ready to start construction”, says Waronker.

Thanks to the financial strength of CBD and its equity partners, the project although delayed by slow approvals and a slowing economy, will be a fabulous future development of quality, affordable single family homes in a neo-traditional style housing development.

Liberty Bluff is designed by the national engineering giant Kimley Horn. Lots will range in size from 55-90 foot frontages designed in traditional neighborhood flair. Construction is expected to commence in the winter of 2008-2009. The project has taken almost four years to obtain approvals. The project was part of a comp plan amendment, and suffered through a water moratorium. With the comp plan in place, and the expansion of the potable water capacity complete, the development will soon be ready to go. “We are working with the various governing bodies to complete the few remaining entitlements and then finally we should be ready to go. This has been a long project but we feel the end product will be worth the wait” said the proud developer.

David Waronker
CBD Real Estate Investment LLC
Celebration, FL 34747
321-939-1111


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