D.R. Horton Inc. buys 60 lots in Ellenton's Covered Bridge Estates

BUYER: D.R. Horton Inc., Deerfield Beach
SELLER: CBH 5 LLC
PROPERTY: a portion of Covered Bridge Crossing north of 37th Street East, Ellenton also known as Lots 37, Unit 1; Lots 1-4, phase VI-F; and lots 1-55, phase II-B and III-B, Covered Bridge Estates
PRICE: $2.36 million
LAW FIRM ON DEED: Akerman Senterfitt, Orlando

PLANS, DESCRIPTION: Fort Worth, Texas-based D.R. Horton Inc. purchased 60 lots in the Covered Bridge Estates community for $2.36 million.

The price equated to $39,333 per unit.

Jessica Hansen, vice president of communications for D.R. Horton, says the national homebuilder purchased lots in the community because of its location and amenities. The northeastern Manatee County community features conservation areas, lakes, a pool and cabana, basketball and tennis courts, a fitness center and clubhouse.

“We also plan to offer both one- and two-story homes and three-car garages,” Hansen wrote in an email to the Business Observer. “Construction on the model is scheduled to start in about four weeks...”

Single-family homes will start in the low $200,000s and range from 1,844 to 3,576 square feet of living space. D.R. Horton has already started sales of Covered Bridge Estates from its McKinley Oaks community in Parrish.

Much like several other national homebuilders, D.R. Horton has been especially aggressively this year in buying real estate. It recently purchased 62 home lots in the Magnolia Landings community in Fort Myers for $1.21 million, 20 lots in Bucks Run Reserve in Naples for $1.2 million and 25 lots in the Willow Chase gated community in North Venice for $1.48 million.