Carter Group Buys 55 Acres for Average 68 Cents Per SF

ORLANDO-Developer-investor Daryl M. Carter, acting as trustee on three transactions, has purchased a total 55 acres in three potential commercial/residential growth areas in Orange, Lake and Sumter counties. The aggregate price of $1.63 million equates to $29,545 per acre, or an average 68 cents per sf. The deals were all cash transactions.

The prices paid for each parcel continues a decade-old strategy that Daryl Carter and his developer father Maury L. Carter have followed in buying land at the lowest possible market price and then holding the dirt for long-term appreciation or development.

“We always strive to pay a fair market price for the properties we acquire, and often pay more than market price if we think the property’s location and potential merits it,” Daryl Carter tells GlobeSt.com.