Four Seasons Closes 400-Acre Deal With Disney

ORLANDO-Toronto-based Four Seasons Hotels and Resorts Inc. has closed a six-month-old deal with Walt Disney World Co. to purchase 400 prime acres in Disney-founded Celebration, FL where it plans to develop a 450-room, $200 million hotel, golf course, 125 timeshares and an unspecified number of single-family residences and town homes. A ground-breaking date hasn’t been set.

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.