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Stokes Land Group buys Talavera development

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  • | 10:50 p.m. January 7, 2011
  • Commercial Real Estate
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BUYER: Tideridge Holdings Acquisitions LLC, New York City

SELLER: CRM Florida Properties LLC

PROPERTY: a portion of U.S. 41 north of State Road 52, Spring Hill

PRICE: $2.28 million

LAW FIRM ON DEED: Hill Ward Henderson, Tampa

PLANS, DESCRIPTION: Jacksonville-based Stokes Land Group LLLP purchased 543.25 acres in Spring Hill for $2.28 million.

The price equated to $4,197 per acre.

The property, located between Suncoast Parkway and Interstate 75, is approved for a residential development called Talavera. The site has preliminary plan approvals and permits for the development of 756 single-family homes.

SR 52 Development LLC previously owned the property. But the seller, SunTrust Bank, took it back through a deed in lieu of foreclosure in June.

Nancy Surak of Eshenbaugh Land Co. represented the seller and Bruce Erhardt of Cushman & Wakefield of Florida Inc. represented the buyer.

Stokes Land Group has more than 65 current projects in the southeastern United States, according to its website. Its projects include destination resorts at Amelia Island, upscale gated golf course communities like Marsh Landing Country Club in Ponte Vedra Beach and affordable housing communities such as Samara Lakes in St Augustine.



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