EAST MANATEE -- A company controlled by Medallion Home owner Carlos Beruff has purchased acreage near its Twin Rivers development on Rye Road N.
Beruff purchased 70.7 acres of fully-entitled residential land from Neal Land Ventures, one of several companies operating under the umbrella of Manatee County residential builder and developer Pat Neal. Through Cottages Twin Rivers LLC, Beruff, a Bradenton home builder, paid $2.09 million, according to county property transfer records.
The land lies on the west side of Rye Road N. between Upper Manatee Road and Golf Course Road.
John Neal, president of Neal Land Ventures, said the land is approved for the construction of 139 single-family housing units. It was previously known as Southern Oaks. Although the land could have been developed as a Neal community, Neal said he had an "early discussion" with Beruff that led to the sale.
Neal Land Ventures purchased the property in June 2012 for $650,000, according to county property records.
According to the Medallion Home website, Twin Rivers encompasses about 1,800 acres. The site advertises home prices starting at $304,000.
Matt M. Johnson, Herald business reporter, can be reached at 941-745-7027, or on Twitter@MattAtBradenton.