Where builders are buying: Central Florida (Orlando area)
• Investor: Starwood Land Ventures
• Size: 5,499 lots
At a bankruptcy auction in February, Starwood Land Ventures paid $81 million for 5,499 home lots and 36 model homes that Florida homebuilder Tousa previously held, the Orlando Business Journal reported. Many of the lots are in nine communities in the Orlando, Fla., area.
Lennar then closed a deal with Starwood to buy or option more than 2,700 home sites across Florida. The builder began constructing single-family homes and townhomes in March. Home prices will start at $130,000.