GL Homes buys 550-acre piece of Naples' TwinEagles development

BUYER: Naples Associates IV LLLP (principal: Maria Menendez), Sunrise
SELLER: TwinEagles AGR South LLC
PROPERTY: a portion of land on the south side of Immokalee Road, Naples
PRICE: $35 million
PREVIOUS PRICE: $3.45 million, September 2010
LAW FIRM ON DEED: Greenberg Traurig PA, Miami

PLANS, DESCRIPTION: GL Homes purchased the more than 550-acre southern section of the TwinEagles development for $35 million.

The price equated to $63,636 per acre based on the rough acreage.