Mango Capital, Inc. Executes Another Agreement to Secure an Ownership Interest in a Significant Real Estate Project

FAR HILLS, N.J., May 24, 2017 — Mango Capital, Inc. (OTC:  MCAP) announces an agreement for the acquisition of an ownership stake in CBD at Bonnies Landing LLC. Consideration for the purchase consists exclusively of MCAP shares. The investment is expected to yield a positive future income stream.

Bonnie’s Landing will be the location of 1,150 rental apartments.  The 81-acre property is located off of 30th Street between Robinson and Grace Roads in Haines City, Polk County, FL across from the Haines City High School.  The major Orlando area theme parks, including Disney, Universal and Sea World, are all within a 30 minute drive.  The development will be built in four sections with construction expected to commence by the fourth quarter of 2017.

“We are excited to have Mango Capital join us in the ownership of Bonnie’s Landing.  Combing Mango’s strong capital base with our strategic planning expertise, Bonnie’s Landing will be one of the largest, most desirable rental communities between Tampa and Orlando”, said David Waronker, Manager of Desert Mountain Land Holdings LLC. “The construction project is estimated to cost $126.2 million and add 2,700 full time jobs to Polk County, FL.  Impact fees from the project will be over $9 million and a portion of these will help Polk County fund the construction of the new middle and high schools.  Both schools are planned to be built in the neighboring town, Davenport, by the Polk County School Board.”

“This transaction continues our business plan of growing via acquisition of real property using restricted shares in Mango as currency. We have some additional interesting opportunities in the pipeline as well, and are aggressively seeking more purchases to grow our balance sheet and to take Mango mainstream,” stated Mango President Rick Makoujy.

About Mango Capital, Inc.

Mango Capital Inc. is a real estate holding company specializing in acquiring undervalued American land and complimentary operating businesses in promising markets. MCAP recently completed the acquisition of more than 500 real estate properties in Colorado, Arizona, Texas, Arkansas and New Mexico. With a motivated team, Mango will seize the opportunity to efficiently grow Mango into a major domestic land owner. Mango plans to acquire promising real property efficiently utilizing company shares as currency and intends to opportunistically sell properties for cash and/or notes.

For additional information about Mango, contact Jacqueline Palumbo, Communications Director, Mango Capital, Inc., at (845) 270-5792 or Rick@MangoCapitalInc.com.

Please visit our website http://mangocapitalinc.com/

This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. The matters discussed in this news release involve goals, forecasts, assumptions, risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements.

Former South Jersey Developer CBD Real Estate Investment LLC returns to New Jersey

March 3, 2017

Celebration, Florida.

Former South Jersey Developer CBD Real Estate Investment LLC returns to New Jersey.

A former regional real estate developer with a large resume of past projects in Southern New Jersey is returning to the area to develop its first New Jersey housing project since 2002.

David Waronker, President of CBD Real Estate Investment LLC, announced today that his Celebration Florida-based development company entered an agreement of sale to purchase the Little Pond Golf Course located at 1110 Chew Landing Road in Gloucester Township.  Here he plans to seek zoning and site plan approval to build “Pretty Pond Village” a new 204 unit luxury rental apartment community.  If CBD obtains the appropriate approvals, the project should break ground by the first quarter of 2018.

Little Pond Village is proposed to have one, two and three bedroom apartments in two and three story buildings.  The community will have a state of the art clubhouse including a health club, theater room, internet café, game room, party room and full kitchen.  A community outdoor pool, dog park, walking trail and other active and passive recreation shall be provided on site.  The site will be developed with green energy efficiency and high-speed internet.  Rents are expected to be from $835 to $1675.   There will be limited covered parking and closed garage spaces, and the development proposes 1.5 parking spaces per unit.

CBD Real Estate was known throughout New Jersey as a large tract developer of single and multifamily housing.  CBD built 35 housing projects in Burlington, Gloucester, Ocean and Camden Counties.  Those projects included the Village of Little Mill in Pine Hill, Wellington Court and North Wellington Court in Mount Laurel, Harpers Orchard in Glassboro, Peach Ridge in Edgewater Park and the River Club in Fieldsboro.

CBD was also well known throughout the state as a proponent for affordable housing. A fierce affordable housing advocate, Waronker, and CBD were proactive in helping bring many New Jersey towns into compliance with their state-mandated affordable housing obligations.  CBD sued and won historical affordable “Mount Laurel II” housing cases in towns including East Greenwich, Harrison Township, Cinnaminson, Edgewater Park, and Mount Laurel.  CBD is currently an intervenor in the affordable housing case involving Washington Boro in Warren County.  That project, known as “Washington Station”, is a proposed 300 single family home project with 15% of the units designated for low and moderate income housing.

While many states such as Florida welcome and encourage development, New Jersey remains challenging to developers and builders despite being the most densely populated State in the Country.  New Jersey along with California rank number one and two respectively as the most difficult states to obtain approvals.

CBD firsthand recognizes the challenges of developing in New Jersey but understands that with proper planning, sound engineering and architecture that continued growth is inevitable.  “You need to not just have a well-planned project, but also the resources, professional staff, and stomach to navigate a New Jersey project through the exhaustive approval process,” says Waronker.  Those approvals include local, county, State and Federal approvals from no less than 14 separate governing regulatory agencies.  CBD estimates the cost to obtain approvals for a residential development in New Jersey to be $3000 per lot and take an average of two years from start to finish.  “And that is before you even apply for a building permit”, says Waronker.  He states the cost in Florida is less than $1000 per home site and the average project takes just eight months to receive all approvals.

David Waronker was a two-term President of the Builders League of South Jersey, and in 2000 was voted the States Prestigious Builder of the Year Award.  Waronker was Chairman of many builder advocacy groups including the Regulatory Enforcement Committee, Development Action Committee, Political Action Committee and Sales and Marketing Council.

In 1998 CBD expanded to Central Florida and has been developing large residential single family, townhome and garden style rental communities from Fort Myers to Orlando.  Today  CBD is based in Celebration Florida but still retains an office in Delran New Jersey.  CBD, its investors and its affiliates have real estate investments in 12 States.

While President of the BLSJ, it became clear to Waronker that by 2020 New Jersey would be the first “built out” state in the country.   So in 1998, he ventured out of State, first starting development in Florida, then forming a national real estate bank which bought large tracts of building lots and land across the country, including significant projects in Texas, Maine, Arizona, Arkansas, Nevada, and Colorado.

In 2004 CBD moved its main office to Central Florida.   “The diversity of the projects, as well as a continued commitment from many of our capital investors, allowed us to survive some very lean years during the deep recession,” said Waronker.  “Our emphasis was always on developing land in Florida, but, I always kept my eye on any eventual opportunity to come back to New Jersey,” he said.

Little Pond Village will be the first of several new projects CBD plans for the Garden State.  CBD is planning to develop five to six market rate rental projects in Burlington, Gloucester and Camden Counties.  The demand for affordable rental housing is virtually insatiable, as most rental projects throughout the state are at capacity many with wait lists.  CBD feels that the rental market is vastly underserved in New Jersey, and recent market studies were undertaken by CBD prove that statistic as accurate.  “High rents in aged properties upset me as much as it must upset the tenants”, says Waronker.  He continues, “The opportunity to develop and build new, exciting, modern state of the art energy efficient rental communities will be well received huge assets for our eventual tenants as well as the communities where they will be built.”

NEW HOMES COMING TO ZEPHYRHILLS

David Waronker
CBD REAL ESTATE INVESTMENT LLC
Phone: 623-203-2700
Fax: 866-370-9513Email: dw@gocbd.com
1420 Celebration Blvd.

Celebration, FL  34747

David Waronker
CBD REAL ESTATE INVESTMENT LLC
Phone: 623-203-2700
Fax: 866-370-9513

Press Release

CELEBRATION, FL
OCTOBER 17, 2016

NEW HOMES COMING TO ZEPHYRHILLS

Celebration Florida based CBD Real Estate Investment LLC announces its most recent acquisition of residential development in Zephyrhills, Florida.

Located at the northwest corner of Dean Dairy Road, CBD will develop a 69-unit single family home development to be known as “The District at Silver Oaks.”  The property is currently a horse farm and veterinary clinic.  The land is located between the existing Silverado Ranch and the proposed District at Abbotts Square PUD.  CBD plans to work with the City to improve Dean Dairy Road from Eiland Blvd north to the entrance of both The District at Abbotts Square and The District at Silver Oaks.

The land is appropriately zoned Suburban Residential and allows for up to six homes per acre.  CBD plans a residential community of market rate single family homes and expects the site to be approved and ready for development by the third quarter of 2017.  The land will be serviced with city utilities and will complement the tremendous growth and demand of residential for sale housing.  Zephyrhills is a bedroom community to Tampa located just 35 miles northeast of the downtown.

The land sales price of the October 14, 2016 settlement was $289,000.  The transaction brokers were Mike Prilliman of Berkshire Hathaway HomeServices Florida and Will Bingham of Bingham Realty, Inc.

CBD Real Estate Investment LLC  is a national developer of single and multifamily for sale and rental housing with offices in Mount Laurel, New Jersey as well as Celebration.  For more information on this project or CBD please visit www.gocbd.com.

District at Silver Oaks

Press Releaseimg_3450

THE DISTRICT AT SILVER OAKS                                                          img_3450img_3444

CELEBRATION, FLORIDA  JUNE 1, 2016

CBD Real Estate Investment LLC announces it has entered into an agreement of sale to purchase its next residential development.

 

On March 14, 2016, CBD entered into an agremeent to purchase an existing horse farm and veterinarian clinic in Zephyrhills, Florida.  Closing is expecte by the fourth quarter, 2016.

The “District at Silver Oaks” is an approximately 14.25 acres located off of Dean Dairy Road north of Eiland Boulevard Zephyrhills, and east of “Silverado”, Pasco County, Florida.  The land is annexed into the City and has a future land use of Suburban Residential which allows for an overall density of development up to 7.4 units per acre.

 

CBD proposes a residential community at a density of approximately 4 units per acre and at this density will provide 69 single family lots surrounding one central community park and open space.  This open space will be known as “The District” and will be the location where residents can meet, children can play, dogs can be walked and the neighborhood can call it the central common area   This District will also have a water feature as well as a small kid’s park, Dog Park, and covered terrace.  This site will be serviced by City water and sewer.  Duke Energy is the power provider.

 

This is a site we target being ready for development by the spring of 2017.  For more information on this future community please contact CBD President David Waronker at dw@gocbd.com.

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New Master Planned Community Coming to Zephyrhills

Press Release

New Master Planned Community Coming to Zephyrhills

Celebration, FL May 10, 2016:

 

CBD Real Estate Investment LLC announces the approval for a new master planned community to be built on 167 acres to be known as “The District at Abbott’s Square.”  The District at Abbott’s Square will be a traditional neighborhood development of 124 single family, 44 duplex, 152 townhome and 768 multifamily garden style home sites.   There will also be approximately 21000 feet of retail space, all designed with active and passive recreation.

 

The project name was taken from the original name of Zephyrhills from the 1890s when the community was known as “Abbott’s Station.”  The development site is on the north end of Dean Dairy Road and west of Simons Road between the Silverado residential home site and the Silver Oaks Golf Course.  Plans for the development were approved at first reading by Zephyrhills City Council after the conclusion of the public comment period.

 

According to CBD President David Waronker, “we will have a lot of engineering and permit work to do before this project breaks ground.  But we do hope to begin construction by the fourth quarter 2016.”  Per the terms of the approval, CBD shall be obligated to permit and improve Simons Road from Fort King Road to Eiland Boulevard.  In addition, Dean Dairy Road will be improved from Eiland to the southern entrance to the development site.  CBD has also agreed to dedicate 4.77 acres of the property to the City, which this City plans to use for the development of a public tennis center with multiple courts, snack bar, pro shop, and restroom facilities.  It is hoped that eventually the tennis facility will be able to host various tennis competitions.  The developer also will make a voluntary contribution to the city planned “Reimagine Gall Boulevard” effort to revitalize Gall Boulevard and its commercial district.

 

“We have been developing land in Zephyrhills since 1998.  This is our eleventh project and we are committed to the betterment of the City and its residents.  Whatever we can do to help the City grow and improve the quality of life of its current and future residents will be done”, continued Waronker.

 

CBD Real Estate is a regional developer with offices in Mount Laurel New Jersey and Celebration Florida.  For more information on CBD please visit its website at www.gocbd.com.

 

 

Links at Silver Oaks

On October 1, 2015, CBD Real Estate Investment LLC entered into an agreement of sale with TCM Florida XI LLC to acquire the asset known as “The Links at Silver Oaks.”

Currently, the overgrown and abandoned “Links at Silver Oaks” is approximately 21 acres of developed land located on the Silver Oaks Golf Course off of Simons Road and Fort King Road in Zephyrhills, Pasco County, Florida.  The site is approved and significantly improved for 122 duplex lots.  Outstanding approvals and improvements to the site include the Simons Road improvement plan and road opening permits from Fort King Road to the northern entrance of the development site, relocation of Duke Energy Utility Tower, completion of on-site improvements including paving, utilities, and lighting, as well as final site grading and landscaping.  Also to be completed are Department of Community Affairs’ approval for a homeowners association and plat recording.

CBD is acquiring the site for an alternative plan.  It is the goal of CBD to amend the existing approval from 122 duplex units to 92 single family lots.  Of course, to perfect this change CBD will have to redesign and amend the engineering to the site, make significant changes to on-site improvements, as well as complete offsite improvements including completion of Simons Road’s permitting and approvals, installing part of the Simons Road improvements, permitting with the City and County, and completing amended on site improvements including utilities, landscaping, and community features (signage, common area improvements.)

From the time CBD takes title to the property it expects all approvals and work to be completed within 7-9 months

CBD has been trying to negotiate with Trax for three years for the acquisition of the site.  On October 1, 2015, CBD finally received a signed contract with TCM Florida XI LLC and the land is being purchased from TCM Florida XI LLC for $1,175,000. Closing is set for the fourth quarter of 2015.

CBD Real Estate Investment LLC is a Celebration based real estate investment, development and building company with additional offices in Arizona and New Jersey.

CBD to buy Estates at Vista Ridge in Dundee, Florida

October 25, 2015

CBD Real Estate Investment LLC announces that it has entered into an agreement of sale to purchase an 82 acre orange grove located off of Campbell Drive and Dr Welch Road in Dundee, Polk County, Florida.  This property is currently approved for 272 single family detached home sites, and is known as “The Estates at Vista Ridge.”

CBD will rename the property “The Groves at Lake Annie.”  There are no immediate plans to change the existing approvals, and, construction is not anticipated to start on site until the fourth quarter 2016.  The property is being purchased from an affiliate of Saunders Realty of Lakeland Florida for an all cash price of $1,210,000.  Closing is anticipated to occur in the first quarter of 2016.

The Groves at Lake Annie LLC will be the new owner of the land and will make a significant investment in the existing grove to increase productivity while it waits for the local land values to rise.  Currently the grove is at less than 50% productivity and CBD will investment roghly $100,000 to replenish trees, fertilize and insecticide the land in hopes to increase the quantity and value of the citrus.

“This is a beautiful property with easy access to HIghway 27 and all of Central Florida.  The views of Lake Annie are spectacular.  Eventually this property will be the home for 272 families”, said David Waronker, President of CBD.  Dundee is known as the “Orange Growing Capital of World and offers some of the most beautiful land in all of Florida.