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Firm Buys Land in Two States

February 07, 1988

Leisure Technology has purchased 80 acres in Oceanside and 330 acres in Naples, Fla., for $12.5 million.

Master-planned housing communities will be developed on the parcels, with revenues of about $220 million upon completion, according to Michael L. Tenzer, chairman and chief executive officer of the West Los Angeles-based firm.

The Naples site will have 1,380 "active adult" housing units on completion, he said, while the Oceanside site will have 249 "executive-size" houses adjacent to the firm's Leisure Village Ocean Hills.

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