Category: Press Releases

CBD Announces New Master Planned Communities

September 9, 2021

September 2, 2021

Celebration, Florida

       CBD Real Estate Investment LLC is under contract to purchase multiple projects totaling 229 acres of land in Lake Wales.  Here CBD plans its next master planned communities.

        Hunt Club Grove North at Lake Wales is an assemblage from three Sellers of 126 acres of land South of Highway 60, north of Port Salter Road between 11th Street and Hunt Brothers Road where 448 single family lots and 129 town homes are proposed.  The land is being purchased from The Estate of Vivian Pennachio, Hunt Brothers Inc, and Richard McKinley.  This phase should be permitted and ready for construction by the Fourth Quarter of 2022.

        Hunt Club Grove South at Lake Wales is 103 acres located immediately south of North Grove and Port Salter Road, between Hunt Brothers Road and the Conrail Rail Road Crossing.  Here, CBD is proposing another 445 single family lots along with 192 town homes.  The land is being purchased from LMT Enterprises LLC.  We expect this section to be fully permitted and ready for construction by the First Quarter 2023

        Lake Wales has great road access off of Highway 27, Scenic Highway 17-92 and State Highway 60.  Virtually in the Center of the State and easy drives to Orlando, Tampa and Vero Beach.  The area has ample shopping, restaurants, entertainment, parks and a good school system.  Lake Wales has a high retention rate for those who are born in the City that remain in the City.  The City is very pro-growth and are working hard to improve their roads, public infrastructure and are working very hard to revitalize its downtown. This is a City that has watched for years as development passed them by – now they want to be a part of the growth and has been very proactive in enticing developers and builders to the City to start new residential and commercial construction projects.   Lake Wales is also in the immediate path of progress and between 2019 to the current there are over 8500 new homes proposed to be built over the next five years.

          “We see Lake Wales as the next Davenport, Haines City, and other high growth areas expanding out of Orlando and for that matter Tampa” says David Waronker, President of CBD Real Estate Investment LLC. “My goal is to bring at least 500 lots per year to the Lake Wales market for the next five years.  This is not our first foray into Lake Wales, as Robins Run (157 lots) and Robins Walk (33 lots) will be under construction by early 2023” says Waronker.  Haines City has exploded over the past two years with 11 new housing projects under construction bringing 3700 new home owners to town in 2021.  Dundee is starting to take off again, and then of course there is Lake Wales.  Residents need shelter, they need homes.  The Pandemic has actually increased our housing market with more out of state buyers moving to Florida and buying affordable, quality homes than ever  in our Sunshine State.  Yet, even with all this growth we still have a housing shortage.  New homes cannot be planned nor built quickly as needed.  As soon as a speculation home is started it is sold.  Many resales receive multiple offers the day they go on the market with many selling far above the asking price.  And these are not investors, but end users looking to relocate to Florida or move up from their current homes or apartments.  Also, the latest craze in housing not just in Florida but nationally is the Build for Rent Single Family Homes Communities.  Like regular apartments, these are large communities of all single family detached product which are available for rent, not for sale.  CBD expects Lake Wales to see roughly 1000 new home starts per year for the next decade in Lake Wales.  And CBD expects to be a major part of this anticipated growth.  The growth seems to be insatiable.  

David Waronker

CBD Real Estate Announces the Sale of The Links at Silver Oaks

October 25, 2019

Celebration, Florida

October 7, 2019

CBD Real Estate Investment LLC, a Celebration FL based real estate development and investment company, announces the sale and closure of 28 acres in Zephyrhills, Florida. The Links at Silver Oaks, a property approved for 94 lots and located off of Simons Road and Fort King Road in Zephyhills, FL, was sold to K Hovanian Homes at a purchase price of $2,760,000. The project has been renamed Calypso Bay.  Construction is expected to break ground on November 1, 2019.  The property is located off of Simons Road and Fort King Road adjacent to the Silverado Golf Course.

CBD originally purchased the property in October of 2015 out of foreclosure. Although the property at one point had been approved for 122 duplex lots, the plan was abandoned and CBD undertook the process of obtaining permits for the construction of Simons Road as well as all on site permitting for the now currently approved plan for 50 single family homes.

CBD has been developing land in Zephyrhills since 1998, and has a long-standing relationship with City Hall and the Office of City Planning. The Links at Silver Oaks was the second of three CBD projects along the Simons Road corridor. The Oaks at Pasco was sold earlier this summer to Pulte Homes, and the site is now under construction for 87 single family lots. Lennar Homes will be starting the District at Abbotts Square by the second quarter of 2020.  Here, over 680 new homes shall be constructed by this building behemoth.  For more information on CBD and its many development projects we welcome you to visit our website at www.gocbd.com.

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

May 24, 2017

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

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

October 18, 2016
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.