Starwood Land Ventures Acquires Red Tail Golf Community In Lake County
ORLANDO, FL – February 14, 2012 – Starwood Land Ventures (SLV), one of the largest owners of residential building lots in Central Florida, has acquired the 480-acre Red Tail Golf Club in Lake County, including 220 developed lots, the championship golf course and Clubhouse facility, tennis courts and fitness center.
The Red Tail Golf Course, designed by Dave Harman, opened in 2004 as a private country club community. Many homes were built in the community with price tags in excess of $1 million.
“This is one of the premier residential communities in Central Florida serving both Seminole and Lake counties,” said Mike Moser, CEO of SLV. “Everything about the community is exceptional, from the championship golf course, the design of the Clubhouse, the country club amenities, existing homes and the overall community presentation.
“There are 220 homesites available at Red Tail and approximately 100 homes already built. The majority are either along the golf course or on one of the lakes within the community,” Moser said. “SLV will bring financial stability to Red Tail and actively work with builders to begin new home construction immediately.”
- SLV has acquired a portfolio of more than 4,500 residential lots in Central Florida and quickly energized home sales within each community:
- Independence. The fastest-selling community in the Orlando SMA, with more than 200 homes sold since SLV acquired it in March 2010.
- Summerlake. SLV is investing nearly $2 million on a lakefront Clubhouse and amenity package that is now underway. D.R. Horton and KB Home are building homes on some of the 1,500 homesites within the community.
- Sawgrass. A 492-lot community near Orlando International Airport, where Beazer Homes and KB Home are selling from the $150s to $300s.
- Nona Terrace. Lennar Homes is building townhomes in this 250-unit community located near Lake Nona and “medical city.”
- Eagles Landing at Westyn Bay. A large community in Ocoee where Ashton Woods Homes is offering single family homes.
- Legacy Park near Disney World Resort. Lennar Homes is building townhomes and single family homes from the low $120s.
“We are committed to making a major investment to ensure Red Tail remains among the finest communities in Central Florida,” Moser said.
About Starwood Land Ventures, LLC
Starwood Land Ventures is a Bradenton, Fl., based residential real estate investment firm focused on land acquisition, development and financing nationwide. SLV has acquired 17,000 lots in four states with an acquisition price exceeding $200 million, and a projected sellout of nearly $1 billion. The firm is primarily funded by an affiliate of Greenwich, Conn., based Starwood Capital Group Global (www.starwoodcapital.com), a privately held international real estate investment firm founded in 1991. Starwood partners with builders, developers, lenders and landholders and provides creative solutions to recapitalize assets with both debt and equity. The firm also purchases debt and specializes in the acquisition, entitlement and development of large, master-planned communities, which may include mixed-use components. For more information about Starwood, visit www.starwoodland.com.
About Starwood Capital Group
Starwood Capital Group is a private, U.S.-based investment firm with a core focus on global real estate. Since the group’s inception in 1991, the firm, through its various funds, has invested nearly $8 billion of equity capital, representing over $25 billion in assets. Starwood Capital Group currently has approximately $16 billion of assets under management. Starwood Capital Group maintains offices in Greenwich, Atlanta, San Francisco, Washington D.C. and affiliated offices in London, Luxembourg, Paris, Mumbai, Tokyo and Sao Paulo. Starwood Capital Group has invested in nearly every class of real estate on a global basis, including hotels, resorts, office, retail, residential, senior housing, golf and industrial assets. Starwood Capital Group and its affiliates have successfully executed an investment strategy that includes building enterprises around core real estate portfolios in both the private and public markets. Additional information about Starwood Capital may be round at www.starwoodcapital.com.