Ronto Group, partners buy second part of Orange Blossom Ranch, Groves

BUYER: RP Orange Blossom Owner LLC (Rockpoint Group LLC), Dallas
SELLER: Bryan W. Paul Family Limited Liability Limited Partnership
PROPERTY: 1950 Oil Well Road and 2478 Heydon Circle East, Naples
PRICE: $11.15 million

PLANS, DESCRIPTION:
The Ronto Group and other equity partners, including Boston-based Rockpoint Group LLC, have closed on the second portion of the partially developed Orange Blossom Ranch and Orange Blossom Groves communities. The buyers purchased the 186 acres of agricultural land for $11.15 million.

The price equated to $59,965 per acre.