Blue Water Companies, FL


Blue Water Companies – Invest with Us



Blue Water is a group of limited liability companies, each formed to acquire, entitle and or develop real property throughout the State of Florida. Since the inception of the original Blue Water, LLC and its affiliates in 1999, the Blue Water Companies have acquired and/or contracted residential and commercial real property having a combined value in excess of $65,000,000. Among its current holdings, Blue Water owns the site of the former Pal’s Captain’s Table, including the submerged land immediately adjacent thereto, at The Cove on the intracoastal in Deerfield Beach. Blue Water also owns an assemblage of properties located at International Speedway Boulevard and Beach Street; and, International Speedway along the Halifax River in Daytona Beach with full entitlements of a 300 suite hotel, a 156 boat slip marina and amenities, as well as, a parcel in Ormond Beach, west of A1A.

Managing Partners:


Mr. Saavedra is the founding member of the law firm of Saavedra | Goodwin, which he established in 1988. Born in Havana, Cuba, Mr. Saavedra is fluent in English and Spanish. He received his B.A. in 1979 from the University of Connecticut and his J.D. in 1986 from the George Washington National Law Center. Mr. Saavedra has served as Secretary and Director for the Inter-American Businessmen Association and co-authored “An Introduction to the Settlement of Unresolved Property Claims against the Cuban Government.” Mr. Saavedra also served as Staff Assistant for Congressman William Lehman in Washington, D.C.

Admitted to the Bars of Florida, Connecticut and Washington D.C., Mr. Saavedra has earned the distinction of an AV rating by the Martindale Hubbell Association. The AV rating identifies preeminent legal ability and reflects the experience, integrity and professionalism of the recipient, as well as, a commitment to the highest professional and ethical standards.

Mr. Saavedra specializes in all aspects of general corporate and commercial transactional law, including general aviation-related transactions, mergers and acquisitions, complex commercial transactions, land development, property and casualty claims, and business transactions, as well as, derivative litigation, including transactions associated with the Commonwealth of The Bahamas and Costa Rica.

Mr. Saavedra advises his clients on business formation (corporation, LLC, LLP and partnership), equity/capital placement, as well as, debt finance and strategic real estate opportunities, distressed debt investments and other transactions involving domestic representation of international clients. He represents clients in general aviation/fixed base operation transactions, associated airport ground leases including leasing, and ownership structures in compliance with applicable aviation regulations and guidelines. Mr. Saavedra represents first party property insured’s involving serious property damage with filing and negotiating claims, suing for coverage if claims are denied and bringing bad faith claims against insurance companies.

Most notably, during his career, Mr. Saavedra has represented sellers, purchasers and lenders in approximately $3.2 billion ($3,200,000,000.00) dollars in cumulative corporate acquisitions and real estate transactions in a variety of asset purchases, land development transactions, complex commercial refinancing, long-term leasehold and subleasehold financings, and distressed debt acquisitions. Mr. Saavedra has recently represented a corporate conglomerate as lead counsel in approximately $450 million ($450,000,000.00) dollars’ worth of refinancing, new construction loans, and tax-exempt bond transactions and construction at locations throughout Florida, New York and Georgia.

Most recently, Mr. Saavedra served as lead corporate counsel in handling a series of real estate bond transactions in excess of $150,000,000.00. In 2013, Mr. Saavedra acted as lead borrower’s counsel for a $200,000,000.00 senior credit facility, collateralized by approximately twenty properties in Florida, Georgia and New York. The syndicate of banks on the transaction was led by SunTrust Bank and included TD Bank, Bank United and other participating lenders. Mr. Saavedra provided corporate and real estate expertise for all aspects and documentation of the transaction. Mr. Saavedra also serves as corporate counsel to Florida based developers, European, Canadian, Caribbean, Central and South American Clients related to transactions in the United States and offshore. Currently, Mr. Saavedra is involved in an assemblage of nineteen properties in Daytona Beach, Florida for an approved mixed-use condo hotel-marina project.



Mr. O’Leary is an entrepreneur who specializes in the acquisition, assemblage and development of commercial real estate. With more than 25 years’ experience in both operational and management capacities, Miceal has played an integral role in the success of his investments groups. As President and managing member of several real estate development and investments groups, Miceal is responsible for site selection/acquisition, negotiations related to pricing and terms, and consultation and conferencing with State, Federal and local municipalities and their political counterparts. His awareness for the need for green development and alternative energy are the driving force behind his new initiatives.

Born and raised in St. John’s, Newfoundland Canada, Miceal spent his formative years engrossed in sports. Immediately after graduating high school, Miceal was invited by the Montreal Expos baseball team to join their spring training camp in Daytona Beach, Florida as the youngest player to attend. During the following six years he attended Spring Training with the Toronto Blue Jays and the Texas Rangers while also seeking his business education at Ft. Lauderdale Business School and Broward College. Following the pursuit of his baseball dream, Miceal permanently relocated to South Florida. For almost two decades, Miceal owned and operated several parking companies, where he managed over one hundred employees in multiple locations. Throughout this time, Miceal was closely connected to the hospitality industry, forging relationships with both local and international hotel groups, restaurateurs, and tourism related companies.

While operating his parking business, Miceal began acquiring commercial real estate. In 1987, he acted on his skills for spotting lucrative real estate deals and began the development of his first retail center in the South Florida market. Soon after, Miceal was sought after for his extensive knowledge of the market and began consulting with development companies and municipalities, first focusing on multi-story parking garage operations, then ultimately branching out to all facets of the industry. In 1999, Miceal became President and managing member of Mogerman, O’Leary and Patel, a development and investment company that bought, developed and sold commercial real estate.

In late 2003, Miceal became a managing member of Blue Water, LLC, a real estate development and investment group. This partnership is responsible for acquisitions, entitlement and development of residential and commercial properties throughout the State of Florida. Most recently, Miceal led his partners to diversify their portfolio internationally just before South Florida felt the effects of the economic downturn. Miceal’s foresight led him to form Blue Water Holdings Limited and Blue Water Downtown Investments Limited. These Canadian real estate development and investment groups are focused on development projects in Newfoundland.

Miceal has served on various development boards and community groups and is active with the FCA, a non-profit Christian organization that reaches out to the young athletes of the world.


Mr. Patel is the President and Co-Founder of Asta Parking, Inc. Mr. Patel is a truly entrepreneurial individual whose family has been and continues to be involved in the hospitality business through the ownership of various franchise hotels in California, Tennessee, Kentucky and Florida since 1975. In 1985, Mr. Patel started out his parking business career as a valet attendant for Continental Parking, a local parking company in Broward County, and rose up through the ranks of the business. His vast experience with the hospitality industry along with his years in the parking business allows him to understand first-hand what it takes to run an efficient parking operation.

Mr. Patel obtained his Business Administration Degree in Trinidad and Tobago and migrated to Fort Lauderdale in 1985. He continued to further his education in Business Administration at the Broward Community College in Davie, Florida while still working as a parking attendant through 1989. He rose through the ranks with Continental immediately and was promoted to Regional Manager for Continental Parking overseeing five high volume parking lots totaling approximately 1000 spaces. In addition, Mr. Patel was responsible for administrating and overseeing the schedule and payroll for the firm’s employees. While at Continental Parking, he handled various responsibilities in the South Florida area for both self-parked and valet parking facilities.

In 1993, Mr. Patel decided to start his own business in the parking industry and as a result, Asta Parking Inc. was born. Asta was incorporated in 1993 with a 1-lot operation consisting of 33 spaces. By 2013, Mr. Patel built Asta into a prominent, privately owned parking management firm with 40+ lots consisting of over 5000 parking spaces staffed with over 150 part time and full time employees. Today, Mr. Patel frequently visits all the various establishments and facilities on a daily basis wherein Asta operates and participates in all major corporate decisions involving all aspects of the parking company.

Mr. Patel brings a wealth of operational, financial, economic and organizational hands-on property management experience to the company. The addition of Mr. Patel, combined with Damaso Saavedra and Miceal O’Leary, provides Blue Water with a breadth and depth of management that we believe is essentially unmatched among our industry peers.

BLUE WATER, LLC:13.5 acres of mixed use property adjacent to the Port of Fort Pierce, in Fort Pierce, Florida
BLUE WATER IV, LLC:Project located on A1A Ormond Beach, Florida
BLUE WATER VI, LLC:Vacant land formed from an assemblage of thirteen (13) parcels located at International Speedway Boulevard and Beach Street, along the Halifax River, in Daytona Beach, Florida, with a fully approved 156+/- slip marina and 300 suite hotel development.
BLUE WATER VIII, LLC:The former Pal’s Captain’s Table Restaurant and waterfront parcel which includes 1 acre of submerged land at The Cove in Deerfield Beach, Florida
BLUE WATER IX, LLC:Prime vacant land suitable for retail development located at 100 International Speedway Boulevard, Daytona Beach, Florida


November 2003 Blue Water LLC purchases approximately 8 ½ acres of vacant land in Ft. Pierce for $950,000 from Ft. Pierce LLC as part of a mixed –use assemblage.Pending development / sale.
December 2003 Blue Water LLC purchases 4 ½ acres of vacant land in Ft. Pierce for $120,000 from Robert and Opal Meyer as part of a mixed-use assemblage.Pending development / sale.
June 2004 Blue Water LLC purchases approximately 23,000 sq. ft, of vacant land with building for $250,000.Sold for $450,000 on January 9, 2007.
October 2004 Blue Water III, LLC purchases Denny’s property at 3330 E. Oakland Park Blvd. for $1,710,000.Sold on February 25, 2005 for $3,150,000.
October 2004 Blue Water II, LLC contracts to purchase Oceans 234 for $6,100,000.Blue Water sells Contract for $7,200,000.
January 2005 Blue Water V, LLC loans $500,000 to Island City Lofts and obtains the option to purchase 3 lofts at pre-construction prices and is immediately assignable.
March 2005 Blue Water IV, LLC purchases Stellas Restaurant and adjacent vacant land (total of .75 acres) on A1A across from ocean in Ormond Beach for $1,600,000.Sold restaurant parcel on July 28, 2005 for $1,750,000, but retains adjacent vacant parcel.
May 2005 Blue Water III, LLC purchases 1.6 acres of oceanfront vacant land (also on the inlet) in Fort Pierce for $3,000,000. Blue Water III, LLC also purchases small 25×25 lot, contiguous to the 1.6 acres, for $10,000. Pending development of a retail/residential project.Sold on December 15, 2006 to The Trust For Public Land / City of Fort Pierce for $5,925,000 and we also received a tax donation benefit for approx. $2,000,000.
May 2006 Blue Water VII, LLC contracts to purchase approximately 17 acres for $12,000,000 in Plantation, Florida and Plantation Office Park II, Inc.Pending development of residential development.
March 2007 Blue Water VIII, LLC purchases 1 acre upland / 1 acre submerged land property for $3,405,000 in Deerfield Beach, FL.Pending development / sale.
June 2007 Blue Water IX, LLC purchases property on the corner of International Speedway Blvd. and Beach Street for $575,000 in Daytona Beach, FL.Pending development / sale. Site plan approved for restaurant.


All of the Blue Water VI purchases below are part of a fully approved Retail, Residential, Hotel, Marina development on the Halifax River and International Speedway Blvd. in Daytona Beach.

July 2005 Blue Water VI, LLC purchases approximately 1 acre parcel in Daytona Beach for $2,700,000 as part of an assemblage.
October 2005 Blue Water VI, LLC purchases 1.5 acres in Daytona Beach for $2,100,000 as part of an assemblage.
December 2005 Blue Water VI, LLC purchases property in Daytona Beach for $600,000 as part of an assemblage.
January 2006 Blue Water VI, LLC purchases property in Daytona Beach for $250,000 as part of an assemblage.
January 2006 Blue Water VI, LLC purchases property in Daytona Beach for $525,000 as part of an assemblage.
January 2006 Blue Water VI, LLC purchases property in Daytona Beach for $300,000 from Elizabeth Heilman and Joan McCabe as part of an assemblage.
January 2006 Blue Water VI, LLC purchases property in Daytona Beach for $642,600 as part of an assemblage.
September 2006 Blue Water VI, LLC purchases property in Daytona Beach for $1,400,000 as part of an assemblage.
December 2006 Blue Water VI, LLC purchases property in Daytona Beach for $1,200,000 as part of an assemblage.
January 2007 Blue Water VI, LLC purchases property in Daytona Beach for $625,000 as part of an assemblage.
January 2007 Blue Water VI, LLC purchases property in Daytona Beach for $396,000 as part of an assemblage.
August 2007 Blue Water VI, LLC purchases property in Daytona Beach for $575,000 as part of an assemblage.
November 2007 Blue Water VI, LLC purchases property in Daytona Beach for $650,000 as part of an assemblage.