A local hotel and hospitality business owner paid $1.875 million in recent weeks for a second home in an exclusive subdivision southwest of Dr. Phillips.
Set in the 8000 block of Southern Breeze Dr., the 0.5-upland acre property features frontage on Big Sand Lake in the 24-hour gated community Estates at Phillips Landing.
Built in 1997, the two-story home has five bedrooms and four baths across 6,193 square feet of conditioned area, and features a pool and spa with waterfall, boat dock and large deck.
The buyers were Anshu K. Jain and Nora Jain. Anshu is a principal in the ownership group of the Clarion Inn & Suites on Caravan Court near Universal Orlando, which has been undergoing renovations since 2014. He holds a managing member stake in seven Florida businesses, most tied to hospitality.
The sale closed on Sept. 29, and was recorded Oct. 4 in Orange County.
The Jains already own a newer but smaller home just down the block, built in 2003 with four beds, four-and-a-half baths and 4,537 square feet of conditioned area, for which they paid $900,000 in 2008. Anshu told GrowthSpotter they have yet to decide if they will treat the recent purchase as an investment property or move there.