Forestar, IHP Capital Partners (IHP), and Shea Homes have announced that Forestar is under agreement to acquire and control the real estate operations, club operations and the homeowner association business of Trilogy at Ocala Preserve on U.S. 27 in Ocala.
“Forestar is an excellent addition to the Ocala Preserve development team,” IHP stated in a press release this week. “The company brings decades of experience delivering desirable communities throughout the U.S. to this special place within the heart of Florida. Forestar’s expertise will further enhance the amenity-rich resort lifestyle for all Ocala residents.”
Forestar representatives expressed excitement over the acquisition.
“We are excited for the opportunity to acquire the real estate development operations and become a member of the Ocala Preserve team,” Forestar said in the press release. “We believe Ocala Preserve is a wonderful place to call home for many residents, and we are excited to build upon the lifestyle experience and home ownership journey for many future residents.”
Trilogy at Ocala Preserve is a 55-and-old community spanning more than 600 acres set among groves of majestic live. It features a 7-acre lake, three themed parks and an expansive network of walking, biking, and hiking trails as well as a Tom Lehman-designed golf course and club.
In a letter to Trilogy homeowners last week, Shea Homes Area Vice President Michael Fraley said the new owners would likely drop the name Trilogy and refer to the community as Ocala Preserve going forward. Fraley indicated that homeowners’ warranties would not be affected.
Shea Homes would likely remain involved in the project, and, according to Fraley’s letter, is trying to purchase the 84 remaining lots in the community and perhaps additional land to continue expanding.
Shea Homes did not address its plans in the joint press release with Forestar and IHP, but said it is “excited to share our passion for the Ocala Preserve community with Forestar.
“Ocala Preserve, in all its natural beauty stands apart in Ocala as a premier resort lifestyle master planned community,” Shea Homes representatives said. “Considering the mature landscaping, the great park/golf complex and The Oak House and all it’s fantastic amenities, Ocala Preserve is well positioned to continue providing incredible lifestyle and real estate opportunity.”