Beneficial Communities buys land for future Fruitville Road apartments

BUYER: Le Sereno LLC (managers: Stephan Gietl, Fernando Levy Hara, Thomas Settle and Donald Paxton), Aventura
SELLER: IberiaBank
PROPERTY: 50 and 80 Paramount Drive, Sarasota
PRICE: $1.9 million
PREVIOUS PRICE: $1.5 million October 2003 and $400,000, April 2005
LAW FIRM ON DEED: Adams and Reese LLP, Sarasota

PLANS, DESCRIPTION:
Sarasota-based Beneficial Communities purchased 8.87 acres of vacant land between the Target Shopping Center and Osprey Commerce Center for $1.9 million.

The price equated to $214,205 per acre.