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MASHPEE, MA-Capitalizing on the current demand for investment property, American Real Estate Partners, operating under the entity New Seabury Properties LLC, has placed its Cape Cod seaside golf community on the market. New Seabury on Cape Cod is a 2,600-acre seaside golf and residential resort on Nantucket Sound here.

The property, located at 20 Red Brick Rd. just off the Mashpee Rotary, features three miles of private beaches, a fitness center, pool and 10 tennis courts along with 1,200 existing homes and 467 home sites. The offering includes the Club at New Seabury, which includes two golf courses, a 42,000-sf clubhouse, the Popponesset Inn seaside restaurant and function facility, a driving range and practice greens.

The site has already caught the eye of nearly 85 investors, Joseph Morningstar, senior managing director with Holliday Fenoglio Fowler LP, tells GlobeSt.com. HFF began marketing on the property just over a week ago and will wrap up the bidding process in about three weeks.

Although no asking price has been set, Morningstar predicts that it could trade for well above $200 million. “There’s very few properties zoned and of this scale on Cape Cod,” Morningstar says, noting that development and water restrictions on Cape Cod currently make it difficult to site a sizable development like New Seabury.

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