St. Joe Company Sells 380 Acre Victoria Park to Kolter Land Partners

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(WEST PALM BEACH, FL) -- According to a prepared statement from Kolter Land Partners, a privately-owned land acquisition and development firm based in Palm Beach County, they have recently acquired Victoria Park in DeLand from The St. Joe Company (NYSE:JOE) based in Jacksonville, Florida

The acquisition of Victoria Park includes seven single-family homes and 20 town homes built by The St. Joe Company; 436 fully developed home sites, 88 partially developed home sites, 1,879 undeveloped home sites on 380 acres; a 2.2-acre commercial site and a Ron Garl-designed golf course with clubhouse and equipment.  The purchase price was not disclosed.

"We are pleased to acquire such a quality project with over 1,200 existing residences, which establishes a great foundation for our plans to complete the development of Victoria Park," Harvey said.

Kolter Land Partners, LLC is the land acquisition affiliate of The Kolter Group, the West Palm Beach-based real estate development, investment and construction company that is also developing the central Florida communities of Grande Oaks at Heathrow and Lake Charm in Seminole County and Calabria in West Orange and other projects throughout Florida and the southeastern United States.

Kolter plans to initially focus on selling out the existing inventory at Victoria Park, support existing builders in the community and to start bringing in new builders after the first of the year.

"We look forward to working with the existing residents and builders at Victoria Park, the City of DeLand and Volusia County, on our future plans," Harvey said.

Since 1993, KLP and its affiliates have invested over $6 billion in developments comprising over 12,000 units. Presently, KLP and its affiliates hold land for more than 9,000 residences.

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