SARASOTA, FL-WCI Communities has purchased the Sarasota National golf course here and with it the right to build more than 1,500 housing units at the 2,400-acre property.
The Bonita Springs, FL-based homebuilder announced the deal late Friday, but did not provide details on the purchase price or the seller. Sarasota National is approved for 1,584 homes, however, just about 30 homes have been completed there to date, according to the Herald-Tribune. Approximately 1,300 acres of the property are to be preserved.
WCI is in the midst of an expansion program. WCI raised $175 million in capital in June 2012 to finance the expansion initiative. WCI had emerged from bankruptcy in September 2009 after filing for Chapter 11 bankruptcy in August 2008. See story in the Herald-Tribune.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
