Lakewood Ranch firm buys lots … $81 million worth [Central Florida]
Starwood Land Ventures, a Lakewood Ranch firm formed three years ago to acquire distressed real estate, has scored one of the largest land purchases in Florida in the past year.
Starwood Land officials say the company’s $81 million acquisition of nearly 5,500 lots from the bankrupt Tousa Homes Inc. will allow it to re-energize communities from Jacksonville to Miami and generate sales to builders.
“This is really the culmination of Starwood Land’s efforts in regards to searching and bidding on residential assets,” said Mike Moser, the local company’s east regional president.
As part of the acquisition, Miami-based Lennar Corp. has committed to buy 1,400 of the Starwood lots, and has options to buy another 1,350.