D.R. Horton buys Otter Bend in Verandah

BUYER: D.R. Horton Inc. (principals: Paul Romanowki, Donald Tomnitz, Bill Wheat, Donald Horton, Thomas Montano and Stacey Dwyer), Fort Worth, Texas

SELLER: Verandah Development LLC

PROPERTY: a portion of Orange River, Fort Myers also known as lots 1-45, Verandah, unit 14 (Otter Bend)

PRICE: $1.62 million

LAW FIRM ON DEED: Henderson Franklin Starnes & Holt PA, Bonita Springs

PLANS, DESCRIPTION: Homebuilder D.R. Horton Inc. purchased 45 lots in Verandah for $1.62 million.

The price equated to $36,000 per home lot.

The lots cover the entire Otter Bend neighborhood in Verandah, a 1,456-acre master-planned community. The neighborhood has roads and access to the centralized community amenities covering all of Verandah.

D.R. Horton already started construction on a model home that should be completed by the middle of October. The neighborhood will feature single-family villas ranging from 1,840 to 3,041 square feet. Prices will start in the mid-$200,000s.

A big selling point for prospective buyers is that Verandah is an established community, says Jill Hoffman-Meeks, vice president of sales and marketing for D.R. Horton. The community features a golf course, a dog park and access to Orange River.

In a separate transaction, the homebuilder also purchased the final 10 home sites in Verandah's Citrus Creek neighborhood.