St. Augustine-based The Hutson Companies, through Florida Landbank LLC, made two St. Johns County land acquisitions Dec. 2 totaling $89.04 million.
It bought the properties from Minneapolis-based creditor Värde through VPDF Silverleaf Jax 9 LLC, VP Finders Holdings LLC and Värde Partners Inc.
The $54.7 million purchase comprised 553 lots along with multiple tracts and private rights of way in phases of Brook Forest, Silverleaf Parcel 9.
The $34.34 million purchase comprised 252 lots along with multiple tracts and private rights of way in Reverie at Silverleaf phases one and two.
The master-planned SilverLeaf community is zoned for 16,300 dwelling units and 2.9 million square feet of commercial space, according to hutsoncompanies.com.
The community is at County Road 210 and Florida Road 16 at St. Johns Parkway west of Interstate 95.
According to its website, Hutson owns and is developing projects in Clay, Duval and St. Johns counties, with total development rights for more than 12,000 single- and multifamily homes and more than 7 million square feet of commercial, office and industrial space.
Hutson, founded in 1973, has developed residential communities with more than 20,000 home sites in Northeast Florida, according to its website, including SilverLeaf, OakLeaf Plantation and Johns Creek.