U.S. Assets Group company planning Ashton Oaks community

BUYER: McIntosh Land LLC, Sarasota
SELLER: Charlie Vann Jr. Revocable Trust
PROPERTY: 5005 McIntosh Road, Sarasota
PRICE: $1 million
LAW FIRM ON DEED: Shumaker Loop Kendrick LLP, Sarasota

PLANS, DESCRIPTION:
An affiliate of U.S. Assets Group purchased 9.64 acres on McIntosh Road north of Ashton Road for $1 million.

The price equated to $103,734 per acre.

The new ownership plans to develop the property into a 20-lot single-family subdivision, called Ashton Oaks.

“It's in an exceptional infill location in the center of Sarasota,” says Steven Brown, a principal of the purchase entity, McIntosh Land LLC. “We are in the design stages for the subdivision right now. It is going to be a gated private community. We expect to go to market in the fall.”

Homes will likely range in size from 2,400 to 4,000 square feet and start in the $400,000s. The community will features several existing oaks and a large lake. Heritage Builders, another affiliate of U.S. Assets Group, will build all the homes in the community.

McIntosh Land LLC mortgaged the property to Branch Banking and Trust Co. for $525,000.