CondoMax USA Debuts in Condo-Conversion Market; Company Currently Has Five Conversion Projects Underway in Florida; Taking Concept Nationwide

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February 28, 2006 11:43 AM US Eastern Timezone

CondoMax USA Debuts in Condo-Conversion Market; Company Currently Has Five Conversion Projects Underway in Florida; Taking Concept Nationwide

 

BOCA RATON, Fla.--(BUSINESS WIRE)--Feb. 28, 2006--Respected real estate and retail veterans Izzy Ashkenazy and Jonathan Agus have announced the creation of CondoMax USA, their latest residential venture. Previously known as Ashkenazy & Agus Ventures, LLC, the firm is converting choice apartment complexes into stunning residential condominium communities.

CondoMax USA was created to fill the growing national void for quality, affordable residences by developing realistically-priced, sophisticated condominium-conversion projects that are within the means of most Americans. Through luxury upgrades, enhanced exterior amenities and artistic landscaping, CondoMax USA teams transform select existing apartment buildings into highly desirable, affordable condominium residential enclaves.

"The average American family has been closed out of the home buying market the past three years because of exorbitant pricing levels. We're here to offer the solution," Agus says. "Our philosophy is to give everyday people the opportunity to realize their dream of home ownership by providing maximum value and maximum lifestyle at properties they are able to purchase."

CondoMax USA has recently closed on five condominium-conversion projects in Florida that are in various stages of the conversion cycle. Conversions currently in the works include:

-- Meadows on the Green (formerly Lincoln Meadows) in Boynton Beach, Fla., is a 410-unit garden style community with 17 two-story residential buildings and clubhouse on 42 acres.

-- Sunset Lakes (formerly Courtney Place) is a 28-acre, 238-unit garden style community of 17 two-story buildings on Turkey Lake in Orlando, Fla., with a clubhouse and boat launching capabilities.

-- Sunset Isles (formerly Courtney Village) is a 20-acre, 232-unit garden-style community in Royal Palm Beach, Fla.

-- The Fountains (formerly Toscana) in Orlando, Fla., built in 2000, is a 238-unit community of 25 two- and three-story garden-style residences on a 12-acre site.

-- Villas at Lakeside (formerly Summer Club) is a 294-unit garden-style community of 12 three-story residential buildings and clubhouse on 39 acres in Oviedo, Fla.

According to Agus, CondoMax USA understands consumers' desire to own a piece of the American dream and offers workable solutions, irregardless of background, credit history or availability of ready cash. Based on the success the company is achieving in Florida, he and Ashkenazy are taking CondoMax USA nationwide.

"We give people the opportunity to live in their dream home today while offering them a lifestyle that is unique," Agus says. "Most importantly, we present them with the opportunity to acquire a desirable home at price points they can afford and providing them with an asset that can only appreciate over time."

Boca Raton, Fla.-based CondoMax USA (formerly Ashkenazy & Agus Ventures, LLC) is built on a business platform that delivers a powerful record of condominium-conversion projects and ensures residents maximum value and maximum lifestyle amenities. The company is led by Izzy Ashkenazy and Jonathan Agus, who bring extensive real estate investment and management experience to the firm.