Sapphire South Padre Island’s Premier Luxury Condo Sold Out

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Sapphire, South Padre Island, Texas’ premiere luxury resort condominium is now “Sold Out.” According to Strategyst LLC, the project sales group for IBC Bank, today’s announcement is the second of three projects sold out on their behalf.

Sapphire, South Padre Island, Texas’ premiere luxury resort condominium is now “Sold Out.” According to Strategyst LLC, the Sarasota-based project sales group for IBC Bank, today’s announcement is the second of three projects sold out on their behalf.

Only 3-units remain in Emerald, the luxury condominium resort on Galveston island’s East End.

Owned by IBC Bank, Houston, Sapphire is a 230-unit 2-tower condominium, of which Strategyst sold more than 60 units representing over $30 million in revenue. Sapphire is set on the southern tip of Texas on South Padre Island, which boasts Laguna Madre Bay to the West and the Gulf of Mexico to the East.

In making the announcement, Arnie Seitel, Strategyst LLC Founding Partner, said, “We positioned Sapphire as the best value in luxury living on the Island. The market agreed. Strategyst was able to deliver sales results that exceeded Seller’s expectations for revenue and volume. And, all at market value.”

Seitel credits the partnership between IBC Bank and the Strategyst organization for its successes.

He notes, “We were able to bring together the most talented team of sales and marketing personnel, with years of experience in the national and international real estate marketplace, to create an active selling program with outstanding results.”

“IBC Bank, which also owns Emerald on Galveston’s East End, has always been strongly committed to the South Padre Island community and that commitment is reflected in our investment in this and our other properties in Galveston,” said Jennifer Hoff, IBC Senior Vice President. “We are extremely pleased to announce that both Sapphire and Diamond Beach, on Galveston’s West End, are completely sold and that Emerald is close to being sold out.”

IBC Bank was founded in 1966, and has assets in excess of $12 billion making it one of Texas’ largest holding companies.

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Allan Fliss
Nallacomm LLC
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Allan Fliss
French Broad Place
since: 06/2014
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