Pulte Home Co. LLC acquired 139 acres of land in Oakland Park, Fla., from Blackwood Partners and Blackshore Partners for $31 million, The Real Deal reported.
The sellers provided Pulte about $29.3 million in seller financing.
Pulte plans to build 405 homes on the 2400 Oak Tree Road site, a former golf course that has been closed for a decade. It will also have nearly 50 acres of open space, a fitness trail and resort-style amenities.
Sales are expected to begin next summer, the report said.
Godart Florida Real Estate Investments represented Pulte in the deal.
