Centex Buys Prime 59-Acre Tract

Centex Homes, one of the industry’s largest homebuilders, is one step closer to completing a three-phased plan to purchase a total 166 acres at the Skytop Property near Clermont in Lake County, about 30 miles from Downtown Orlando. The Houston homebuilder paid the Chester C. Fosgate Co. of Winter Park, FL. $866,960 cash for a 59-acre tract. The price equates to $14,694 per acre or about 34 cents per sf. The property is north of the new South Lake Hospital.

Centex bought 68 acres from Fosgate in October 1998 for $1 million or about $15,030 per acre ($34 cents psf). The remaining parcels of the Skytop property consist of multifamily, office, retail and commercial. Maury L. Carter & Associates negotiated for the seller. Titan Properties Inc. represented the buyer.