Lennar Homes buys land in Copper Cove Preserve

BUYER: Lennar Homes LLC, Fort Myers

SELLER: Colonial Homes Inc.

PROPERTY: a portion of Collier Boulevard south of U.S. 41 known as tracts C, D and E, Copper Cove Preserve, Naples

PRICE: $1.45 million

LAW FIRM ON DEED: Henderson Franklin Starnes & Holt PA, Fort Myers

PLANS, DESCRIPTION: Miami-based homebuilder Lennar Homes expanded its interest in Copper Cove Preserve in Naples with the purchase of 14.74 acres for $1.45 million.

The price equated to $98,372 per acre.

The multifamily land acquisition follows Lennar's 2011 purchase of 96 single-family home lots in the 137-lot Copper Cove Preserve community for $2.83 million ($29,445 per lot).

Randy Thibaut and William Rollins of Land Solutions represented the seller, Colonial Homes, in both transactions.

Thibaut says that Lennar's success in earlier portions of the community led to the purchase.

“The site development is ready depending on what they want to bring to market,” he says. “Lennar paid a premium over raw land for the zoning and entitlements that are in place. [The former owners] cleared it and grated it, and it has some infrastructure.”