Walton, a real estate investment and land asset management company with US$3.39 billion under management and administration, has sold 162.5 acres within the master-planned community of Hernando Oaks in Hernando County, Fla. Walton will continue to administer the property on behalf of the new landowners.
The property could support the development of approximately 426 single-family homes on lot sizes ranging from 45 to 85 feet, with development potentially starting within the next three years.
Located on Grand Entrada Blvd. off of South Broad Street in Brooksville, Fla., the Hernando Oaks community is an hour north of Tampa, along Florida’s Nature Coast featuring natural spring lakes, the Weeki Wachee River and the Gulf of Mexico. Named Florida’s Outstanding Rural Community for the Year in 2000, Brooksville is filled with rich history and old-world charm.
As part of the Withlacoochee State Forest, the area is well-known for its outdoor recreation offerings including camping, fishing, kayaking and canoeing and some of the best hiking and mountain biking trails in the country. For golf enthusiasts, the Hernando Oaks community is home to Hernando Oaks Golf & Country Club, one of the top clubs in the Tampa Bay golf community, and located near the World Woods Golf Club, featuring the nationally-ranked Pine Barrens course.
“This sale is an important step for the new growth we are seeing in beautiful Hernando County,” said Mike Doherty, Senior Vice President – Land of Walton Global Holdings, Ltd. “The potential development could bring affordable housing options to residents who want to be near Tampa while living in one of the most desirable areas of Florida.”
Tampa is the second most populated MSA in Florida with 3.18 million residents and a strong economy that boasts of being amongst the Top 25 America’s Fastest Growing Cities by Forbes, offering great employment opportunities in the healthcare and construction sectors.
Walton’s 104,000-acre portfolio located in the United States and Canada, provides a scalable land acquisition platform to support homebuilders. Residential option agreements for Walton-administered land are often structured so the land is bought in phases over time as part of Walton’s successful exit-focused strategy of holding land for future development and providing just-in time inventory to builders.
Walton is a privately owned, leading global real estate investment, land asset management and administration company that has focused on strategically located land in major growth corridors for 40-plus years. The company manages and administers US$3.39 billion of real estate assets in North America, on behalf of its investors and business partners. Walton has more than 104,000 acres of land under ownership, management and administration in the United States and Canada. For more information on Walton, its entities and the company’s portfolio of assets, visit Walton.com.