DF Capital Management LLC of Ponte Vedra Beach, purchased 220 acres in Clay County for $23 million.
The property is southwest of Russell Road and southeast of Hands Drive. It is 2.4 miles from Lake Asbury Elementary School.
The property was sold on Oct. 21 by Jeffrey Block and minority investors through Triple B Ranch LLC.
The buyer is a funding source for Dream Finders Homes.
Christopher Butler, DF Capital Management managing partner, describes the company on his LinkedIn page as: “A private investment manager providing project level equity/debt for community development and the construction of single-family homes.”
The DF Capital Management website states that it was formed in 2018 to manage Dream Finders’ inaugural fund, DF Residential I, LP, to provide expertise and funds to invest in single-family residential real estate.
The property has a 3,204-square-foot home and a 1,104-square-foot detached rec room. Both are two stories and were built in 2002. They are at 2920 N. County Road 209 in Green Cove Springs.
The house was a vacation home for Block. It has three bedrooms, three full baths and one half bath. The rec room has two bedrooms and one full bath. The house is on a lake with a dock. There has a heated swimming pool.
The real estate company, Redfin, estimates the value of the house and rec room at $2.53 milliion.
The two buildings were part of the purchase. Block did not know Dream Finders’ plans for the structures.
Block purchased the land in 2012 for $2.3 million.
In 2020, Block sold about 150 adjoining acres to KB Home for $6 million. It contained 369 lots. Block said KB Home had an option to buy the remaining property, but declined.
This story has been updated with additional information from the property seller.