Disney property sold to developer
Byline: ROBERT BARBA robert.barba@scripps.comSource:VERO BEACH -- A St. Petersburg developer has snagged one of the most prominent pieces of oceanfront property in Vero Beach. Southeast Companies of Tampa Bay Inc., through its subsidiary Ocean Sands-Vero, has purchased 7.8 acres just south of Disney's Vero Beach Resort.Repeated calls to the developer and its broker, Michael Thorpe, were not returned.
The firm paid Disney $13.6 million in late August for the parcel, according to public records. The deal was financed with a $14.3 million mortgage from SunTrust Bank.The property fronts the ocean for about 1,500 feet and is zoned multi-family residential.Plans call for 60 units in five three-story buildings with covered parking, according to the developer's Web site. Units range from 3,500 to 3,800 square feet. Amenities include cabanas, tennis court, pool and spa.No prices are listed on the site.
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