The limited partnership purchased 18 acres at the intersection of County Road 64 and 13 in Daphne for $750,000 and an additional 101 bank-owned lots in Gulf Shores’ Crimson Ridge on County Road 8 for another $700,000.
Nathan Cox of Bellator Real Estate & Development said the buyers have “no immediate plans” to develop either property “in order to give the market some additional time to rebound. Larry Chason of Chason and Earle represented the seller of the commercial parcel in Daphne.
The Gulf Coast Opportunities Fund is one of two limited partnerships comprising Bienville Capital Management LLC with offices in both Mobile and New York. Bienville Capital Partners is the other.
According to Bienville Capital Management’s website, the firm “often partners with our investors to create dedicated investment vehicles in order to capitalize on specific, hard-to-access opportunities that our investment process has identified.”
The Gulf Coast Opportunities Fund , meanwhile, was formed in 2012 to acquire distressed real estate along the Gulf Coast of Alabama, Florida and Mississippi. Specifically, the local company seeks to “scale investment activities to capitalize on continued technical selling pressure that has recently dislocated prices from fundamental value.”
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