Mystique General Contractor Announced, Notice of Commencement Recorded Building Development and Construction Activities Continue

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Pelican 1 Owner, LLC, the developer for Mystique, has announced that building development and construction activities continue at the new ultra-luxury high-rise in the exclusive Pelican Bay community in Naples. Pelican 1 Owner, LLC, is an equal partnership between an affiliate of the global investment firm Kohlberg Kravis Roberts & Co. L.P. (KKR) and an affiliate of the Gulf Bay Group of Companies (Gulf Bay).

Mystique Site Development

Pelican 1 Owner, LLC, the developer for Mystique, has announced that building development and construction activities continue at the new ultra-luxury high-rise in the exclusive Pelican Bay community in Naples. Pelican 1 Owner, LLC, is an equal partnership between an affiliate of the global investment firm Kohlberg Kravis Roberts & Co. L.P. (KKR) and an affiliate of the Gulf Bay Group of Companies (Gulf Bay).

With Mystique’s development activities progressing – subsurface preparation for the structural foundation, including clearing and grading, has been completed, and installation of underground infrastructure, including water, sewage, drainage and fire, has been substantially completed in preparation for the driving of the piles – a Notice of Commencement has been recorded with Collier County. Additionally, Miami-based Coastal Construction Group has been announced as the general contractor.

“Coastal Construction has completed numerous world-class projects, and we’re pleased to work with them on Mystique,” said Gulf Bay Group of Companies President Aubrey Ferrao.

Established in 1988, Coastal Construction is one of the nation’s leading construction management firms and one of the largest general contractors in the state of Florida. The fifth generation family owned business specializes in building high-end properties including condominium and resort towers as well as luxury homes. With a distinguished roster of both public and private clients, Coastal has completed more than 10,000 residential units and 50 hotels, including world-class properties for luxury brands such as St. Regis, The Ritz-Carlton and Four Seasons.

Tom C. Murphy, Coastal Construction co-president, said Mystique represents a new lifestyle in Naples, which will appeal to buyers because of its architecture, residences and amenities. “Mystique is unique within the Naples marketplace, featuring an elegant blend of both a modern and traditional aesthetic,” Murphy said. “We are honored be a part of this project and work alongside this reputable development team.”

Located just steps from the beach on one of only two remaining zoned developable land parcels in Naples between The Ritz-Carlton on the beach and Port Royal, the 20-story Mystique offers 68 estate and four penthouse residences with expansive living spaces and beautiful terrace views toward the Gulf of Mexico from most units. Additionally, Mystique offers nine Jardin residences.

Mystique’s resort-inspired outdoor recreational amenities include a tropical pool, sun deck with pergolas and lush landscaping, and two Har-Tru tennis courts above the garage deck. Mystique’s exquisite lobby-level amenities include custom-designed interior spaces for socializing, including a club room, parlor, salon, library and solarium/card room. Mystique also offers a theater, billiard room, board room, state-of-the-art health and fitness club with the latest in exercise and wellness equipment, ladies’ and men’s steam rooms and showers, and massage rooms with on-call masseurs and masseuses.

Mystique’s building amenities include a 24-hour staffed front desk with a monitored video/electronic closed circuit surveillance system, surveillance cameras at all owner entry accesses, and a two-level parking garage with controlled access.

Residents also will enjoy the exclusive and renowned amenities of the prestigious Pelican Bay, including private, beachfront dining, extensive walking and biking trails, chauffeured tram service, and private access to nearly three miles of unspoiled Gulf of Mexico beaches.

Estate residences at Mystique range in size from 4,003 to 5,280 square feet of air-conditioned living space and are priced from over $3 million to over $7 million. Penthouses span from 4,431 to 5,703 air-conditioned square feet, and ranged in price from $8 million to $9.5 million. All penthouse residences at Mystique have been sold. Mystique also offers Jardin residences ranging from 1,370 to 2,396 air-conditioned square feet, and priced from $1.2 to $2.2 million.

Premier Sotheby’s International Realty, the exclusive listing agent for Mystique, is based out of the on-site sales center.

Founded in 1986, Gulf Bay has successfully completed 14 luxury properties along the 1.5 mile stretch of Gulf-front land within Pelican Bay. In addition to its history in Pelican Bay, Gulf Bay’s other award-winning developments include The Brittany on Park Shore Beach; Marco Beach Ocean Resort® on Marco Island; and the 4,000-acre award-winning, master-planned community of Fiddler’s Creek®.

The Gulf Bay’s completed and under development build-out market value of luxury residential properties is estimated in excess of $5 billion.

KKR is a leading global investment firm that manages investments across multiple asset classes, with over $100 billion in assets under management.

For more information about Mystique, call 239-598-9900, stop by the sales center at 6885 Pelican Bay Blvd., or visit http://www.MystiquePelicanBay.com.

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Jennifer Nicholson
Fiddler's Creek Community
since: 07/2011
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