Starwood buys up land in 2010

BRADENTON — Starwood Land Ventures LLC bought roughly 11,500 residential lots in five separate transactions last year, according to a release from the Bradenton-based firm.

In March, Starwood bought 5,449 residential lots, along with 36 model homes, from TOUSA Inc. for $81 million in a bankruptcy settlement. Since 2007, the company has spent roughly $250 million on residential land purchases, the company said.

“We are optimistic about 2011,” said Mike Moser, a regional president with Starwood, “and believe select opportunities will arise allowing future growth.”

Other major purchases in 2010 included the acquisition of Summerlake Development for $27.9 million, and the purchase of Castle Oaks Development in Colorado for $16.5 million.

In addition to its Florida and Colorado assets, Starwood owns residential properties in Arizona and California. The company has been in business since 1991.