A South Florida real estate trust announced Wednesday its second land deal on the First Coast this month: a $31 million purchase to acquire about 1,300 acres in Northwest St. Johns County.already acquired 3,300 acres at Governors Park in Southern Clay County
for $85M on a sale that closed Dec. 16. A press release said BTI Partners acquired the St. Johns County site in partnership with Westport Capital Partners and the seller was Jacksonville-based Helow Properties LTD. BTI Partners will build the infrastructure for the site, preparing it for homebuilders who are looking for ready-to-build land, a press release said. There are plans for more than 2,000 single-family homes and attached villas to be built on the site located south of County Road 210 in St. Johns County.
The 1,300 acres are part of a master-planned community called Villages at Town Center. As a result of the sale, BTI Partners owns the residential part of the master-planned community stretching between Veterans and Longleaf Pine parkways, the release said. “We continue to expand our footprint in North Florida’s high-growth markets to help communities meet the growing demand for new housing,” BTI Partners CEO Noah Breakstone said. “We expect to commence construction of the site infrastructure in the coming months and prepare the site for home builders looking to build new residential communities in St. Johns in the next two-to-four years.”