Builder WCI Communities purchases Sarasota National

BUYER: WCI Communities LLC, Bonita Springs
SELLER: Sarasota National CDD Holdings LLC
PROPERTY: National Boulevard south of U.S. 41, Venice (also encompassing property on Copperleaf, Awabuki, Crooked Creek and IronBridge drives and Waverly Circle)
PRICE: $48.5 million
PREVIOUS PRICE: $7.79 million, March 2007 and $108.32 million, August 2005
LAW FIRM ON DEED: Akerman Senterfitt, Orlando

PLANS, DESCRIPTION: Bonita Springs-based developer and homebuilder WCI Communities, purchased the 2,400-acre Sarasota National golf course community in Venice for $48.52 million.

The price equated to $20,217 per acre.

Sarasota National is currently approved for 1,584 homes, including 800 homes surrounding the golf and country club portion of the community. Only 30 homes have been completed to date.

Sarasota National's existing 18-hole golf course, designed by Gordon Lewis includes a golf pro shop, driving range and chipping and putting greens.

In addition, more than 1,300 acres of the property has been designated for preservation, conservation and open space.

The developer also plans to create a number of community amenities including a main resort-style clubhouse, spa and fitness facility, tennis courts and pools overlooking the golf course.

WCI expects to start selling homes in the community toward the end of the year.