Kitson & Partners acquires Tuscany Reserve in Naples

Kitson & Partners purchased the Tuscany Reserve luxury golf course development in Naples, Fla. on Feb. 1. The 450-plus-acre Italian-style planned community was built in 2005 by WCI.

Bahrain-based Addax Bank had purchased the real estate development in 2008 for a reported $65 million. Syd Kitson, a former National Football League player, did not disclose the terms of the deal, but said it was significantly less that what the seller had paid, News-Press.com reported.

The project has been idle for a few of years, but Kitson said Addax Bank “protected its investment.” About 25 homes of a planned 500-plus are complete, he said. Kitson plans to build a clubhouse and lifestyle center.

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