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MetroWest's Last 520 Acres and Golf Course/Clubhouse Sold for $60 Mil

ORLANDO-L.M. Sandler and Sons Inc. of Virginia Beach, Va. and its Miami affiliate, SouthStar Development Partners Inc. paid Debra Inc. $115,384 per acre or $2.65 per sf for the prime site in the city's southwest submarket, next to Universal Florida Studios.

By Alex Finkelstein | Updated on October 26, 2000

ORLANDO-Entering its sunset period, the 1,800-acre, 21-year-old mixed-use MetroWest community, next to Universal Florida Studios, is changing hands at the zenith of its development.

L.M. Sandler and Sons Inc. of Virginia Beach, Va. and its Miami affiliate, SouthStar Development Partners Inc. paid Debra Inc. $60 million for the remaining undeveloped 520 acres; the 18-hole champion golf course; and the clubhouse.

The price equates to $115,384 per acre or $2.64 per sf. Those numbers compare to $50,000-an-acre prices when the venture broke ground in 1979. Andrew Pugh, Debra Inc.’s executive vice president and one of MetroWest’s original development principals, will remain in that post to represent the new owners. Debra Inc. is a holding corporation in the Netherlands Antilles.

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