BUYER: DMMD XII LLC (principal: Devanand Mangar), Tampa
SELLER: Eagle FL V SPE LLC
PROPERTY: west of Interstate 75 from north of St. Joe Road to Darby Road, Dade City
PRICE: $1.95 million
ATTORNEY ON DEED: Anthony J Gargano Esq., Fort Myers
PLANS, DESCRIPTION: Dr. Devanand Mangar, president and CEO of Florida Gulf-to-Bay Anesthesiology Associates and chief of staff at Tampa General Hospital, purchased 474 acres of vacant land bordering Interstate 75 for $1.95 million.
The price equated to $4,114 per acre.
The property was previously planned as a residential subdivision of 300 single-family homes called Pine Ridge Estates. It was acquired as an investment and for recreational and agricultural uses.
Ryan Sampson of Eshenbaugh Land Co. handled the transaction.
“It was purchased for the agricultural land value,” Sampson says. “It will likely be a long-term hold of 10 to 15 years.”