Louisiana's Level Homes planning west of Trail subdivision

BUYER: MREC Level Bayshore LLC (officers: John Curry, Kevin Mast, Larry Clever and Andrew Jett), Charlotte, N.C.
SELLER: Engquist Level Development LLC
PROPERTY: 537 547, 557, 567, 570, 580, 587, 590, 597, 602, 605, 612, 615, 622, 625, 642, 652, 662, 665, 672, 702, 712 and 722 Moderne Rue, Sarasota also known as lots 1-23, tracts A, B, C, D, E and G, The Houses of Indian Beach, Sarasota
PRICE: $4.1 million
LAW FIRM ON DEED: Akerman LLP, Orlando

PLANS, DESCRIPTION:
Baton Rouge, La.-based Level Homes transferred 23 lots to another entity it owns for $4.1 million.

The price equated to $178,261 per lot.

The homebuilder is preparing to create a new community on the site.

“This is one of the last true undeveloped subdivisions west of the trail in the downtown area,” says Jeff Gersh, vice president of acquisitions for Level Homes in Florida. “We found it a very attractive opportunity. We are going through a review right now to find the most appropriate homes for the lots.”

It has not been decided if Level Homes will be the exclusive builder in the community. The homebuilder's goal is to start selling homes there this fall.

Gersh says the company is also looking to expand its presence in Sarasota. It already owns a 0.59-acre multifamily parcel at 680 Golden Gate Point, Sarasota.