The Sun Herald | 08/05/2006 | Investors put their cash on Coast barrelhead: "BILOXI - Investors from across the nation went on a $116 million property-buying blitz in South Mississippi this week, snapping up 403 condominium and affordable-housing units.
Some properties were in such high demand a lottery had to be drawn for reservation rights and some of the 110 investors were wait-listed.
Pre-Construction Investing Tours' three-day circuit of South Mississippi development sites wrapped up Thursday at the IP Casino and Hotel when investors put down deposits of $2,500 to $10,000, said tour organizer Wendy Patton.
The properties sold included both luxury condominiums and affordable housing projects planned for construction. Rick Borst, vice president for Pinnacle Real Estate Group of Orlando, Fla., said presenting both types of properties is key.
'One without the other will not work,' said Borst.
Borst said the attractions that make South Mississippi such a great destination for tourists cannot function without places for employees to live."
Saturday, August 05, 2006
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