Starwood Land Ventures, Llc, Reports Strong Lot Sales To Homebuilders In 2011; Anticipates Growth In 2012.
BRADENTON, FL – February 14, 2012 – Starwood Land Ventures, LLC, a Bradenton-based real estate investment firm that specializes in residential land development and financing, today reported strong lot sales to homebuilders in 2011 and continued growth with the acquisition of a private golf community in the Orlando market.
Highlights of the fiscal year 2011 include:
- Nearly 1,000 residential lots were sold to 10 different builders, from Florida to Arizona.
- The most recent acquisition was Red Tail Golf Club near Orlando. The luxury golf community includes an 18-hole championship golf course, Clubhouse, Fitness and Aquatic Center and about 220 lots. Occupied homes in the community range in price from the $400,000s to as high as $7 million.
- Several Starwood communities are selling at a pace of more than 100 homes annually. Starwood’s most active Florida communities in 2011 were Independence and Sawgrass in Orlando, Live Oak in Tampa and Islands of Doral in the Miami area.
- Independence is the top selling master-planned community in Central Florida MSA. Starwood acquired approximately 920 lots and has sold nearly 300 in the last two years.
- Sawgrass is conveniently located in close proximity to the Lake Nona Medical City and Orlando International Airport. Starwood acquired 490 lots and has sold 150 since its 2009 acquisition.
- Live Oak, in new Tampa on Bruce B. Downs Blvd., is the 2nd highest volume selling residential community in Tampa MSA. Starwood has sold over 300 lots of the 550 they acquired in February 2010.
“Since our inception in 2007, Starwood has invested almost $220 million to acquire nearly 17,000 residential lots,” said Mike Moser, co-CEO of Starwood. “We have sold more than 3,600 lots and generated $138 million in proceeds.”
Mike Forsum, co-CEO, noted the major markets in which Starwood has concentrated its acquisitions are showing increased permitting and sales activity.
“We have been focused on our long-term strategic plan and have placed the company in a good position for the coming year. We have multiple projects selling lots to several homebuilders, including Lennar, Meritage, DR Horton, KB Home and other national players,” he said. “We continue to look for opportunities in our core markets as we see demand growing for residential building lots, especially among the national builders who have ready access to funds.”
Starwood has residential communities in several markets in Florida, Arizona, California and Colorado.
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