Gabbert-led investor group buys Villages of Manasota Beach land

BUYER: BMG Three LLC (principal: William Merrill III), Sarasota
SELLER: Larry Hyman as assignee for the benefit of the creditors of Villages of Manasota Beach LLC
PROPERTY: 2401 Englewood Road, a portion of east Stoner Road and additional land, Englewood
PRICE: $5.03 million
PREVIOUS PRICE: $14.28 million, $14.04 million, $8.87 million and $2.69 million, October 2005
LAW FIRM ON DEED: Icard Merrill Cullis Timm Furen & Ginsburg PA, Sarasota

PLANS, DESCRIPTION: An investment group led by Jim Gabbert of Gabbert Investments Group LLC purchased most of the vacant land for the proposed Villages of Manasota Beach development at State Road 776 and Manasota Beach Road for $5.03 million.

The price equated to $6,700 per acre.