The Real Deal Miami

Lennar tapped to build on 2,700 of Starwood’s newly-acquired Florida home sites

February 26, 2010 11:02AM

Lennar has picked up 2,700 residential lots in Florida from Starwood Land Ventures, the Bradenton-based investment arm of Starwood Capital Group, which just yesterday closed on the $81 million purchase of 5,449 such sites from bankruptcy homebuilder Tousa. Starwood had called the portfolio “the most highly sought-after portfolio of residential real estate in Florida since the economic downturn began.” Lennar’s share of the sites are located in first-time homebuyer, master planned, active adult and premier golf course communities in Tampa, Orlando, Jacksonville and Southeast Florida. The Miami-based homebuilder plans to build single-family homes, townhomes and garden villas on the lots, whose prices will start in the low $100,000 range. TRD