Starwood Land Ventures is ready to flip to Lennar nearly half of the 5,499 home sites that it just bought from home-builder Tousa at a bankruptcy auction. In the transaction, Lennar would acquire the option to purchase 1,408 finished home lots in 38 communities across Southeast Florida, Jacksonville, Tampa and Orlando over the next two years, according to a recent Lennar filing with the Securities and Exchange Commission. The Miami home-builder would also acquire the right of first offer on an additional 1,348 home sites for two years.
The deal between Miami-based Lennar and Bradenton-based Starwood is set to close late this week, said Mike Moser, Starwood’s east region president.
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