Hurricane Ian Property Update

Oct 1, 2022

Bourne Financial Group is headquartered in the Orlando area, which was affected by Hurricane Ian as it swept across central Florida on September 28th. We are happy to report that all Florida employees are safe, and our office in Winter Park was not damaged during the storm.

 

We are also pleased to report that most of our communities in affected areas sustained minimal damage, and at this time we do not anticipate any long-term impact on operations or financial performance. Please find below an update on the properties in affected areas.

 

Florida

 

Seagrass Village of Fleming Island

We are pleased to report that Seagrass Village of Fleming Island remained fully operational and made it through the storm with minimal issues.

 

Seagrass Village of Port Orange

The community lost power for approximately 48 hours, but successfully operated on a generator until electricity was restored. The ground floor of Seagrass Village experienced some flooding, and remediation efforts are expected to take a few weeks. To ensure the best possible care and comfort of residents, some memory care residents are being temporarily moved to sister communities. SRI Management is providing more information for family members HERE. BFG and SRI will be leveraging all our combined resources to complete the restorations and resume all normal operations as quickly as possible.

 

South Carolina

 

Indigo at Carolina Forest

Indigo at Carolina Forest sustained minimal damage from the storm. The community was briefly without power on Friday afternoon but operated on a generator with minimal disruption to normal activities.

 

Magnolia Bridge at Murrells Inlet

Heavy rainfall will necessitate extra cleanup at the Murrells Inlet construction site, but there was no significant damage to structures or materials. We are grateful for the proactive efforts of the developer and the general contractor, whose teams were on site as promptly as possible, working to mitigate any issues and keep the development timeline on track.

 

New Haven at Little River

New Haven at Little River sustained minimal damage from the storm. The community was without power overnight on Friday but operated on a generator with minimal disruption to normal activities until power was restored Saturday morning.