Starwood Land Ventures buys 5,000-lots, models

Starwood Land Ventures buys 5,000-lots, models

BUYER: SLV Reflection Isles LLC, Lakewood Ranch

SELLER: Tousa Homes Inc. (debtor in possession)

PROPERTY: lots 36-39, 92-95, 98-101, 272, 273, 404-423 and 536-547, Reflection Isles in Lee County

PRICE: $2.52 million

BUYER: SLV Reflection Lakes LLC, Lakewood Ranch

PROPERTY: a portion of tracts MF-1, MF-2 and MF 3 and a portion of MF-4, Reflection Lakes at Naples, unit II (phases II and III) and various others lots in Reflection Lakes at Naples, Naples

PRICE: $2.12 million

BUYER: SLV Model Homes LLC, Lakewood Ranch

PROPERTY: units 2001 and 2002, Reflection Lakes at Naples II, lot 266, Reflection Lakes at Naples, unit II (Phases II and III) and lots 208-212, Reflection Lakes at Naples Phase 2E, Naples

PRICE: $1.29 million

BUYER: SLV Cape Royal LLC, Lakewood Ranch

PROPERTY: lots 16-37, 49, 51 and 53-72, Cape Royal Replat and lot 16, block B, Royal-Tee Country Club Estates in Lee County

PRICE: $1.25 million

BUYER: SLV Olympia Pointe LLC, Lakewood Ranch

PROPERTY: lots 108-110, 115-118, 121 and additional lots, Olympia Pointe in Lee County

PRICE: $968,857.78

BUYER: SLV Oasis LLC, Lakewood Ranch

PROPERTY: lots 63-123, Oasis Key in Lee County

PRICE: $935,931.86

PLANS, DESCRIPTION: Lakewood Ranch-based residential real estate investment firm Starwood Land Ventures purchased 5,449 residential lots and 36 model homes in Florida from TOUSA Inc. for $81 million.

Starwood Land Ventures won a bankruptcy auction for the properties, which was recently approved by U.S. Bankruptcy Court.

Mike Moser, East Region President of Starwood Land Ventures, says in a press release that after the past few tough years in Florida real estate, he is confident that the properties will emerge strong in a stable market.

“This is precisely the type of value generating project we envisioned taking part in when Starwood Capital partnered with former homebuilding executives to form Starwood Land Ventures three years ago,” he said.

Shortly following the closing, Miami-based homebuilder Lennar Corp. announced it had reached an agreement with Starwood Land Ventures to acquire or option more than 2,700 home sites in 38 communities across Florida. The Florida home sites are located in the Tampa, Orlando, Jacksonville and Southeast Florida markets.

Starwood Land Ventures now owns 13,100 home sites.