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, 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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