GT USA Pays $165 Million for Wellness Way Land Minutes From Disney

The master-planned community will bring nearly 3,000 more homes to Wellness Way.

As featured in Growth Spotter, written by Laura Kinsler.

Congratulations to Doug Druk, COO of GT USA and the entire GT Homes team for a huge accomplishment. GT USA recently secured the deal on a land development property, stretching from U.S 27 to the Orange County line in Orlando, including the Arnold Groves & Ranch and the Roper property. This is now the largest land deal in Lake County history, surpassing the $90 million sale to Pulte just a few months ago. Get the inside scoop below from a recent article published by Growth Spotter, highlighting the exclusive details on the new development plans.

GT USA paid a staggering $165 million Friday for nearly 2,400 acres of undeveloped land in Lake County’s Wellness Way area, breaking the county’s previous sale record that was set just three months ago.

The American division of Canadian homebuilder GT Homes bought the swath of land stretching from U.S. 27 to the Orange County line. It includes the Arnold Groves & Ranch (1,750 acres) and adjacent Roper property (730 acres), which the company plans to combine into a single master-planned community called Panther Run.

The sale nearly doubles the $90 million price Pulte paid to GT USA in July for the 518-acre Schofield property just up the road.

The company won the global bidding war for the Arnold property in April, going under contract about four months after it went on the market and closing in breathtaking speed. “Acquiring, performing due diligence, underwriting, land planning and selling pods to builders concurrent with wetland delineation in six months has been a monumental undertaking,” Bruk said.

“It’s a smokin’ piece of real estate,” Daryl Carter told Growth Spotter when he listed the Arnold property last November.

“Lake County leadership has done a great job forward planning for smart growth within the Wellness Way corridor,” he said. “It is a case study in how to do it right and how to do it well.”

The Wellness Way area has seen some of the largest land sales in Lake County history this year, including the $90 million deal for Pulte’s Schofield PUD in July.

Read the full article here.