OB investor group buys Orange Blossom land

BUYER: OB One LLC, OB 2 LLC, OB 3 LLC and OB 4 LLC (principals: Randy Thibaut and Wade Light), Fort Myers

SELLER: Pulte Home Corp.

PRICE: $4.07 million (four transaction total)

PROPERTY: a portion of Oil Well Road just east of Immokalee Road, including 1965 Sagebrush Circle, 2063 Vermont Lane and 1966 Fairmont Lane, Naples

LAW FIRM ON DEED: Bolanos Truxton PA, Fort Myers

PLANS, DESCRIPTION: A private investor group led by Land Soultion Inc. owner Randy Thibaut purchased the remainder of The Ranch at Orange Blossom and The Groves at Orange Blossom from Pulte Homes for $4.65 million.

The acquisition included 91 single-family home lots and 93 acres in the gated community The Ranch at Orange Blossom and 115 single-family home lots and 30 acres of land in The Groves at Orange Blossom.

Pulte Homes built some 175 homes in the communities prior to the residential crash. Construction has been on hold on the remainder of the property for three years.

“The property was acquired as a long-term hold,” Thibaut says. “We think in the mid- to long-term it's a nice place for housing in the Naples market.”