July 13, 2006 at 13:15 PM EDT
Keen Realty, LLC to Auction 830+/- Acre Subdivision and Community Resort in Tyler, Texas

Neptune Properties, L.P. and Reunion Harbor, Inc. have retained Keen Realty, LLC to market and sell a 830+/- acre lakefront subdivision and community resort located in Tyler, Texas. Established in 1982, Keen Realty specializes in selling excess assets and restructuring real estate and lease portfolios.

The subject property is located approximately 100 miles east of Dallas, TX and 100 miles west of Shreveport, LA and includes an upscale, development community known as The Reserve at Lake Tyler. The Reserve consists of approximately 800 acres of gently rolling, heavily forested terrain anchored by a lakeside resort.

The subdivision, located on East Side Road and CR 285, consists of 195 platted lots on 263+/- acres. Of the 195 approved lots, 115+/- lots are available for sale and 80+/- lots have been sold. The subdivision is further complemented by seven private interior lakes totaling approximately 75 surface acres. There are an additional 434+/- contiguous acres available for future development and 100+/- acres dedicated to park and greenbelt.

The property's recreational activities center around a 30+/- acre lakeside community resort known as Reunion Harbor. Reunion Harbor is situated with over one mile of shore line on the 5,000+/- acre Lake Tyler and is improved with a new 3,600+/- sq. ft. bar and restaurant, a recently updated 7,000+/- sq. ft. clubhouse, a swimming pool, asphalt paved roadways, three boathouses with multiple stalls, and a protected lake area for swimming. Additionally, the resort holds the only Private Club Liquor License on Lake Tyler. Reunion Harbor is also the site of Home and Garden TV's (HGTV) Dream Home 2005. (The three-story, 12,000+/- sq. ft. home and its innovative two-story boathouse was constructed in 2004 at a cost of approximately $1,500,000, and was awarded to an Illinois family in April of 2005.)

"The beautiful lakes, streams, and unspoiled woodlands make this property incredibly attractive to residential developers, resort/time share developers, and investors," said Matthew Bordwin, Executive Vice President of Keen Realty. "The property is an excellent opportunity for a developer to complete a spectacular project. All interested parties must act immediately as the marketing is just beginning and we expect there to be a lot of interest," Bordwin added.

For over 24 years, Keen Realty has had extensive experience solving complex problems and evaluating and selling real estate, leases and businesses. Keen Realty, a leader in identifying strategic investors and partners for businesses, has consulted with hundreds of clients nationwide, and evaluated and disposed of more than 20,000 properties containing nearly 2,000,000,000 sq. ft. across the country. Recent clients include: Cable & Wireless, Meadowcraft, American Candy, Spiegel/Eddie Bauer, Arthur Andersen, Service Merchandise, Tommy Hilfiger, Warnaco, and JP Morgan Chase.

For additional information regarding this property please contact Matthew Bordwin or visit our website at www.keenconsultants.com.

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