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Starwood Land buys nearly 5,500 lots belonging to Engle Homes
By James Thorner,
St. Petersburg Times
Published: Jan 26, 2010

Nearly 5,500 lots belonging to Engle Homes, including sites at New Tampa's Live Oak Preserve and Pasco County's Tampa Bay Golf & Country Club, were sold at bankruptcy auction last week. The new owner is Bradenton developer Starwood Land, which paid $81 million for assets from Engle's parent company TOUSA. The Hollywood-Fla. based TOUSA filed for Chapter 11 in 2008, a couple years after buying Transeastern Homes. Transeastern was a high flier during the housing boom, hawking homes in Live Oak Preserve to investors using high pressure sales tactics. When the market collapsed, Live Oak was left with unsold homes, unpopulated streets and plentiful foreclosures.



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