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Texas Gulf Coast Vacation Community Sees Record 4th Quarter Sales Nearly $20 Million

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2017 Sales in the Cinnamon Shore Gulf Coast Vacation Community Exceed 2016 Record and Continue to Increase Post-Hurricane Harvey

PORT ARANSAS, Texas (January 3, 2017). Sea Oats Group, developers of Cinnamon Shore, the incomparable Texas Gulf Coast vacation community on Mustang Island near Port Aransas, today announced fourth quarter sales nearing $20 million, even after the impacts of Hurricane Harvey on the Texas Gulf Coast. Fourth quarter sales volume is up more than 50 percent since year-end 2016.

“Despite Hurricane Harvey, Cinnamon Shore’s sales exceeded all expectations,” said Jeff Lamkin, CEO of Sea Oats Group. “In fact, we’ve closed on 10 residences and homesites post-Harvey, with another five closings scheduled before the end of this year, totaling $20 million. Buyers recognize there’s no other community like Cinnamon Shore on the Texas Gulf Coast, and they continue to flock to it.”

“Through appreciation and vacation rental revenue, Cinnamon Shore homeowners are seeing a healthy return on investment of 7-20 percent annually,” Lamkin said. “We offer not only a highly desirable lifestyle, but an excellent investment.”

For example, a home purchased in January 2009 for $420,000 resold in September 2017 for $725,000. Another home purchased in August 2013 for $915,000 resold in February 2017 for $1,335,000. A third home purchased in October 2016 for $1,500,000 resold just one year later, in October 2017, for $1,775,000.

About 40 percent of Cinnamon Shore owners are from the Austin-Central Texas area, as are more than 50 percent of the community’s vacation guests. About 30 percent hail from the San Antonio area, while approximately 30 percent are from the Houston or Dallas/Ft Worth vicinities. For most owners and guests, Cinnamon Shore is an easy four-hour drive or less.

Over the past 10 years, Cinnamon Shore has closed 256 properties; by the end of the year, that number will exceed 260.

Lamkin said the town of Port Aransas is in the rebuilding stage from Hurricane Harvey, but Cinnamon Shore – located south of the central area of the town – sustained minimal damage in the scheme of things and quickly repaired what little there was. In the first days after the storm, Sea Oats Group immediately mobilized its team on the ground to help not only Cinnamon Shore residents, but all the people of Port Aransas. Today, the resilient Port Aransas community is coming back stronger than ever. Critical businesses are reopening, and recovery is moving swiftly. In conjunction with the Port Aransas

Chamber of Commerce, Sea Oats Group established the New Day Port A Fund to provide the Port Aransas community with support and recovery assistance. For more information on the fund, visit http://www.cinnamonshore.com/new-day-port-a.

In June, Sea Oats Group announced a $1.3 billion, 300-acre expansion of Cinnamon Shore. Phase II will include a 3,300-foot wide beachfront, maintained daily. Eventually, the development will lie on both sides of State Highway 361, about a mile south of Cinnamon Shore North, with a golf cart bridge enabling residents to easily access amenities on both sides of the highway.

“People from across the state and beyond are attracted to Cinnamon Shore for its simpler way of life,” said Lamkin. “We have it all – a concierge lifestyle in an unparalleled seaside setting; luxurious, superbly crafted homes; fine dining in casual restaurants and bistros; world-class golf; and excellent retail shopping – all in a family-oriented, walkable community. We look forward to 2018 being an even bigger sales year than the one we’ve just enjoyed.”

For more information, please contact the Cinnamon Shore wedding coordination team at (866) 639-9919 or visit here.

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