The Real Deal Miami

Starwood quadruples residential land portfolio in 2010

January 27, 2011 05:08PM

Starwood Land Ventures nearly quadrupled the number of residential lots in its portfolio last year, the Bradenton-based real estate investment firm announced today. Its largest transaction of the year was the $81 million acquisition of bankrupt home builder Tousa Homes, followed by the acquisition of Summerlake Development for $27.9 million. Since 2007, the company, which now has an inventory of 16,000 residential lots, has poured $250 million into residential land investments, and has closed on more than 13,500 lots in the past 15 months. “We have built momentum and will continue to invest in high-reward portfolios,” Starwood’s West Region President, Mike Forsum, said in a statement. TRD