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Bradenton-based Starwood Land Ventures purchased the 1,500-unit Summerlake community in Orlando for more than $27.8 million.
Starwood plans to break ground on the community's amenities this year. The 557-acre community, 1.5-miles north of Walt Disney World, features nearly 450 developed lots and 13 completed homes.
“Summerlake is an integral part of Orange County's Horizons West master plan,” Mike Moser, Starwood Land Ventures' east region president, says in a press release. “We are investing in high quality real estate in the best submarket in Central Florida.” Homebuilding is scheduled to start later this year. Starwood focuses on land acquisition, development and financing. The firm is primarily funded by an affiliate of Greenwich, Conn.-based Starwood Capital Group Global, an international real estate investment firm.
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