Transaction terms weren't disclosed. But area brokers intimate with the deal tell GlobeSt.com on the dirt commanded a price of at least $500,000 per acre ($11.48 per sf) or an estimated $200 million.
It's the largest land deal of its kind in metro Orlando this year, according to Orange County real estate records. The planned hotel is Four Seasons' first in metro Orlando.
"This project will contribute significant value to Central Florida, bringing additional commercial, home construction and unique luxury accommodations that will add to the area's real estate tax base and contribute to local resort and sales tax collections," Reader says in the statement.
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