D.R. Horton pays $14M for land in Jupiter and Florida City for two housing projects

D.R. Horton CEO David Auld and the Reserve at Jupiter site 
D.R. Horton CEO David Auld and the Reserve at Jupiter site

Homebuilder D.R. Horton paid more than $14 million for several properties in South Florida just before Christmas, with plans for two housing projects.

The company paid $8.8 million for about 20 acres of land near Jupiter, at and around 7090 184th Place North and 1100 Limestone Creek Road, according to records.

In August, D.R. Horton filed plans with Palm Beach County for a multifamily property with 85 residential units on the land.

Richard Waserstein

Richard Waserstein

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The seller of the Jupiter assemblage is a company affiliated with Bay Harbor Islands-based real estate investment firm Waterstone Capital. Waserstein, led by Richard Waserstein, spent more than $5 million assembling the land in 2019.

In a separate, unrelated deal, D.R. Horton paid $6.2 million for land in Florida City, near Southwest 172nd Avenue and Northeast 4th Street. The seller of the Florida City land is Aquarela Homes, led by Eduardo L. Rodriguez, according to records. The exact acreage of land sold was not immediately clear.

The land is close to D.R. Horton’s Baywood community. Single-family homes in the community start at $405,000 and range from 1,500 square feet to 2,500 square feet, according to an online listing.

Last year, D.R. Horton paid $11.5 million for 25.4-acres in Florida City near Baywood.

The homebuilder declined to comment regarding its land purchases. D.R. Horton is based in Arlington, Texas, and led by David Auld.

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