Investment group buys east Parrish land

BUYER: FH Parrish 62 LLC (principal: Eric Howell), Sarasota
SELLER: SR 62 Holdings LLC (93.6% interest in parcel 1 and all of parcel 2) and Reynold Glanz (6.4% in parcel 1)
PROPERTY: 13200, 13250 and 13500 State Road 62, 2623 10th Ave. W. and additional land with no address, Parrish
PRICE: $4 million
PREVIOUS PRICE: $31 million, March 2005 and $40,000, October 2006
LAW FIRM ON DEED: Greene Hamrick Quinlan & Schermer PA, Bradenton

PLANS, DESCRIPTION:
An investment group led by Eric Howell purchased 595.06 acres of grazing land a mile east of U.S. 301 in Parrish for $4 million.

The price equated to $6,722 per acre.

SR 62 Holdings LLC, a Rancho Mirage, Calif., company owned by Reynold Glanz, purchased much of the property in early 2005 for $31 million. The developer had planned on creating a 1,100-home community on the site, called Cone Ranch.

Howell had not replied to a request for comment as of deadline.

The purchase entity, FH Parrish 62 LLC, mortgaged the property to Freedom Holdings Manatee LLC for $4.5 million.