ESTANCIA at Bonita Bay Sold Out 3 Residences remain at Azure

Naples, Florida The Lutgert Companies announced that Estancia at Bonita Bay has sold out. Estancia is the third of eight luxury condominium high-rise residences to be built by The Lutgert Companies at Bonita Bay. Estancia was preceded by Vistas in 1998 and Horizons in 2000. Bonita Bay is located in Bonita Springs, just north of Naples on U.S. 41.

“Estancia is a remarkable structure that offers a luxurious lifestyle along with all of the conveniences and amenities of Bonita Bay,” said The Lutgert Companies’ Vice President of Development, Mike Hoyt. “We are proud to include Estancia in The Lutgert Companies’ collection of residences at Bonita Bay.

The Lutgert Companies’ fourth luxury condominium high-rise residence at Bonita Bay, Azure, is currently under construction and scheduled for completion in summer, 2006. Three choice residences priced from $1.9 million remain available. Azure at Bonita Bay is a Mediterranean styled tower 25 stories high featuring a total of 69 tower residences plus 8 Carriage Homes. It is framed by the 9th green of the Bay Island Golf Course, the Estero Bay Park, lakes and nature preserves and offers outstanding views of Estero Bay and the Gulf of Mexico. Azure’s remaining tower homes contain over 4,200 air-conditioned square feet and feature four bedrooms/four baths, a family room with fireplace and four terraces.

Esperia South is also under construction and scheduled for completion in fall of 2007. Over 70% sold, Esperia South will feature 22 typical residence levels with 5 residences per floor and 3 penthouse levels with 3 residences per floor. The residences in Esperia South range from 2,020 to 3,430 air-conditioned square feet. A Shared Amenity Clubhouse will feature a designer furnished multipurpose clubroom with bar and catering kitchen overlooking the 9th hole of the Bay Island golf course, card room, theater/media room, game room, manager’s office and residence, four designer furnished guest suites, a furnished health club with a fully equipped fitness center, steam and massage and a resort style pool area. The pool area will include a large, heated lagoon style pool with lap lane, a separate oversized whirlpool, an outdoor bar and covered screened cabana with fireplace, built-in architectural planters with lush landscaping, architectural water features and bar-b-q grills. Remaining residences at Esperia South are priced from $800,000.

Two additional high-rise communities will be for sale in late January 2006. Esperia North will be released and will include 104 typical residences and 16 penthouse residences. Construction start is anticipated in October, 2006 with completion scheduled for October, 2008. Esperia North residences will be priced from $1.1 million.

Tavira will also be released for pre-construction sale and will include 88 typical residences and 2 penthouse residences. Construction start is anticipated in October, 2006 with completion scheduled for October, 2008. Tavira residences will be priced from $1.6 million.

“To date, the market response to The Lutgert Companies’ residences at Bonita Bay has been outstanding,” said Mike Hoyt. “The luxurious lifestyle, lush natural setting, incredible views of Estero Bay and the Gulf of Mexico and, of course, the five golf courses offered by Bonita Bay all continue to resonate with buyers. Given the response to Azure and Esperia South, we expect demand to remain strong in 2006 as we bring Esperia North and Tavira to market.”

For information about The Lutgert Companies’ Bonita Bay Collection, contact The Lutgert Companies’ Presentation Center at Bonita Bay at 239-495-9595.