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55+ Community Developer, Avatar Holdings Inc., Sells Land For The Site Of A New Hospital

The leading developer of Florida active living communities, Avatar Holdings Inc. announces the company has sold land to Hospital Corporation of America for the construction of a new hospital. Construction could begin in early 2012 on the site across from Solivita.

/ Poinciana, Fla.- Avatar Holdings Inc., a leading developer of Florida active living communities, has completed the sale of a 45-acre parcel of land across from its Solivita active adult community in Poinciana to Hospital Corporation of America, where that company plans to build an emergency medical facility, medical office building and an initial 60-bed hospital. The 45-acre site is located on Cypress Parkway, just west of Solivita Boulevard. The price of the transaction was not disclosed.

Avatar Chief Executive Officer Allen J. Anderson said the sale puts quality healthcare literally across the street from the 10,000 residents at our 55+ community, Solivita. "HCA is one of this country's most respected hospital operators. We have worked with many great people and organizations during the course of the last eight years to make these services readily accessible to Solivita residents and the Poinciana community," he said. "I want to especially recognize the Friends of Poinciana Hospital who were instrumental in helping to obtain the Certificate of Need. Through all of these efforts, our goal is one step closer to reality."

Anderson said he expects the construction of the new hospital to have a positive effect on both the local economy and Solivita sales. "This project will bring new employment opportunities to Poinciana residents. That will translate into a much more prosperous local economy and likely create many new business opportunities," he said. "I know that the presence of a new, technologically advanced hospital right across the street from Solivita will create new interest in our community and certainly serve as a catalyst for new sales," he added.

About Avatar Holdings Inc.
Avatar Holdings Inc. is a diversified real estate company with operations at Solivita in Metro Orlando-Central Florida; at Seasons in Tradition in Port St. Lucie, Florida; and at the CantaMia community in Goodyear, Arizona. Primary residential community operations are conducted at Poinciana and Bellalago in Central Florida, and throughout the Phoenix, Arizona market. Avatar's other real estate activities include the operation of community amenities and the sale of commercial and industrial land.

About Solivita™
Solivita™ has earned more than 80 design and marketing awards and four times has been named one of America's 50 Best Master-Planned Communities for active adults by Where to Retire magazine. Solivita™ currently encompasses 12 neighborhoods with detached and attached single-family homes priced from the $130s to $300s, two 18-hole championship golf courses at the Stonegate Golf Club, the 32,000 sq. ft. Riviera Spa & Fitness Center, The Palms with its 20,000 sq. ft. lifestyle center, the 17,000 sq. ft. Starlite Ballroom, a total of 18 lighted tennis and pickleball courts, two restaurants, and the Waterfront Galleries featuring a computer lab, billiards parlor, library, financial gallery, and studios for a variety of arts and crafts.

* For full details and disclosure please visit Certain terms and conditions apply. Developer may change home design, materials, features, method of construction, prices, promotions, features and amenities without notice. Availability subject to change. THIS IS NOT AN OFFER IN STATES AND JURISDICTIONS WHERE PRIOR REGISTRATION IS REQUIRED AND VOID WHERE PROHIBITED BY LAW. THE COMPLETE TERMS ARE IN OFFERING PLAN AVAILABLE FROM SPONSOR. FILE NOS H00-008 AND H06-0027. Solivita™ Properties, Inc., Contractor #1027159. Copyright (C)Avatar Properties Inc., All Rights Reserved. QB#1224.

Avatar and Solivita are the exclusive trademarks of Avatar Properties Inc.

Media Contact:
Lauren Leetun, APR
Massey Communications

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