SMR, Starwood Land Ventures partner developing Country Club East

BUYER: SLV II CCE Venture LP, Lakewood Ranch
SELLER: Country Club East Investors LLC
PROPERTY: various lots, Country Club East, a portion of land east of Lorraine Road north of The Lake Club, Lakewood Ranch
PRICE: $23.4 million

PLANS, DESCRIPTION: Schroeder-Manatee Ranch Inc. (SMR) and Starwood Land Ventures LLC have formed a new joint venture to acquire the remaining land in Country Club East. The deal covers roughly 475 acres, or more than 600 existing and undeveloped lots.

The new joint entity, SLV II CCE Venture LP, purchased the property from an affiliate of Schroeder-Manatee Ranch, Country Club East Investors LLC, for $23.4 million. Based on the rough acreage, the price equated to $49,263 per acre.