Posts Tagged ‘pinnacle development’

Cascades at River Hall in Fort Myers Purchased by Pinnacle Development

$4.95M acquisition with plans for immediate re-launch

River Hall Clubhouse

Cascades at River Hall, a 55+ active adult community in Fort Myers,  was purchased by Pinnacle development from Bank of America for $4.95M.  This 275-acre community with 575 single-family homes at full buildout was originally developed by Levitt & Sons.

Pinnacle  acquired 14 model homes, seven finished homes and 456 undeveloped single-family homesites.  The community also includes 98 completed homes that were previously sold to owners.  Pinnacle plans to reopen the model homes and restart the sales and construction of single-family homes.

Pinnacle Development is a South Florida-based residential and commercial developer with eight existing projects.  Pinnacle develops land from its raw stage, through all of its entitlements, permits and horizontal development.  Pinnacle is also a contractor for the vertical construction and completion of its projects.