Two parcels of timberland totaling 28.5 acres in St. Johns County sold April 18 to an investor group that has bought and sold commercial properties in Northeast Florida.
The property is west along Interstate 95, near Ring Power Corp.
Southbelt Park Ltd., IGS Diamond S Inc. and Irving G. Snyder Jr. paid $6 million for the land. It bought it from Isabelle S. Lockhart individually and as trustee of the Johns William Lockhart Revocable Trust Agreement of Safety Harbor.
The deed was recorded April 23 with the St. Johns County Clerk of Court.
The deed shows that Southbelt Park has an 82% interest, IGS Diamond has a 16% interest and Irving G. Snyder Jr. has a 2% interest.
Snyder leads Southbelt Park and IGS Diamond S.
The ownership group is based in Jacksonville. The sellers are based in Safety Harbor.
David Little, a commercial real estate adviser with Watson Commercial Realty Inc. of Jacksonville, said he represented the buyer and the seller.
Among several other past transactions, in February, Southbelt Park Ltd., IGS Diamond S Inc. and Irving G Snyder Jr. sold 22.56 acres in the Mandarin area of Jacksonville for $7.15 million to The Church of Jesus Christ of Latter-day Saints.
In November 2019, the three Snyder entities sold the Diamond-S office building at 701 W. Adams St. Downtown to Community First Credit Union of Florida for almost $4.62 million.
Snyder bought the building for $4.4 million in 2017 when it was the Elkins Building and changed it to Diamond S Building.
Snyder said he chose the name for his real estate company because in the 1920s his grandfather owned a large Colorado ranch called the Diamond K and the cattle were branded as such.
“I told myself if I ever had a company I would call it the Diamond S,” he said.
Snyder said in the 1980s he developed a condo project in Sanford, Michigan, and called it Diamond S. Since then it has been the management company for a lot of his properties.
It now is a Florida corporation.
Snyder registered IGS Diamond S Inc. with the state in April 2015 and Southbelt Park Ltd. in November 2018.
Snyder also owned other properties in Jacksonville and St. Augustine.
Snyder didn’t say if he had targeted more buildings to buy.
“I always keep my eyes open, thank you,” he said.