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Bankruptcy Sale - Development Opportunity Bocas del Toro, Panama

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La Vida Solarte
Bocas del Toro, Panama

Property #: TAS211109

Contact Agent

Tiffeny Cook
Tranzon Asset Strategies

888-314-1314 tcook@tranzon.com
Ordered by the United States Bankruptcy Court, Eastern District of California, Sacramento Division, Case No. 07-25104 in the matter of Shepard Johnson and Monte Johnson



The offering is for the assets of a Panamanian corporation, La Vida Solarte, which holds 103 titled fincas, plus the infrastructure finca. Also included is Finca Solarte, which is an ROP property
•    The Trustee will transfer the stock of the corporation to the successful buyer.
•    The Trustee has retained a Panamanian attorney and real estate broker who have extensive experience with this property and the case. The attorney will assist with the transfer of the corporation. The broker is on-site and can offer guidance on the project.



LA VIDA SOLARTE PROJECT

La Vida Solarte is a Panamanian corporation which holds 103 titled fincas plus the infrastructure finca. The total area of the fincas is 180.09 acres (72.88 hectares).  This includes Finca Solarte, which is an ROP finca totaling 9.16 acres (3.71 hectares).


The property stretches across Isla Solarte from coast to coast and rides along the highest ridge leading towards the cut at Bastimentos. By far, this is the most exclusive project available for purchase in the Bocas del Toro archipelago offering a wide variety of property types.


The titled infrastructure finca (5409) includes the paths, common areas, and “green spaces”. The common areas and green spaces are quite large, and could be segregated into additional fincas. The terrain is varied; beachfront, ridge lots, forested areas, hilly lots with ocean views, and interior forest lots as well.

The La Vida Solarte properties are positioned to form a sustainable community.  


Beautiful Isla Solarte is approximately one mile from the town of Bocas del Toro, and easy to reach by private boat or water taxi. It’s the best of both worlds; privacy with easy access to town.


The terrain is varied; beachfront, ridge lots, forested areas, hilly lots with ocean views, and interior forest lots as well. The concept is a community with walking and hiking paths, for use by golf carts and bicycles too.  A basic system of maintained paths is already in place. A service dock and a standard dock are located on the Sunset Beach side (facing Bocas del Toro).  There are numerous docks on the side of the island facing Bastimentos.  Additional docks can be added when needed.  Community gardens have been started.  They consist of banana trees, coco palms, pineapples and other crops.  Raising chickens and pigs has begun, and can be expanded upon.  Because the properties are wide spread, several mini-communities can be designed.


There is no HOA, which is a plus.  A new HOA (or several) can be created by the project owner as part of the sales program.  The owners of fincas that have been sold would most likely welcome a new developer and a HOA to help manage the project.  Some may wish to sell.  There are many sold fincas, but only one full time resident.  She is elderly and may wish to leave the island in the near future.


All the titled fincas, including 5409, are duly recorded in the Public Registry.  The corresponding surveys for every finca are available.  In 2002, when the fincas were subdivided, an all- encompassing survey was prepared.  That program is available and will provide it to the buyer.  The paths illustrated on the surveys and maps are also recorded in the Public Registry.


FINCA SOLARTE
Located only minutes by boat from Bocas Town this area of Solarte island has lush green forest with deep water lagoon just off the coast. If you dream of over-the-sea bungalows or a coastal home with easy access to Bocas Town, Isla Colon, this is the perfect location. Restaurants can be found nearby as well as some of the best snorkeling in Bocas.

Directions:

Isla Solarte is located approximately one mile from the town of Bocas del Toro

The following summary of Terms & Conditions of Auction Sale is only intended to provide you a brief outline. For a complete copy, either download the Property Information Package, if available, or contact Tiffeny Cook

Tiffeny Cook: Tranzon Asset Strategies

888-314-1314 tcook@tranzon.com

All bidders must agree to all of the Terms & Conditions of Auction Sale prior to bidding at any Tranzon auction. Listings may be withdrawn or modified without notice at anytime.

For general information on the auction process, please review the Frequently Asked Questions.

  • Buyer's Premium: See Property Information Package
  • Closing: See Property Information Package
  • Deposit Amount: See Property Information Package
  • Broker Co-op: N/A
  • Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only.
  • Disclaimer: Information contained herein is believed to be correct to the best of auctioneer/agent's knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions. All square footage and other dimensions are approximate. This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time without notice.

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