Dream Finders Homes, led by Tampa Bay Rays majority owner Patrick Zalupski, has purchased a 20-acre parcel at Saddlebrook Resort in Wesley Chapel for $8.5 million.
The land was sold by Mast Capital and Amzak Capital Management, which acquired the 480-acre Saddlebrook property in 2022 and have been repositioning the historic resort since.
JLL Capital Markets represented Mast and Amzak as the exclusive investment advisor on the transaction.
Dream Finders plans to build 118 luxury townhomes on the site, along with a one-acre commercial parcel intended for office and retail uses.
An aerial view of Saddlebrook Resort in Wesley Chapel, where Dream Finders Homes purchased a 20-acre parcel for $8.5M.
What gets built at Saddlebrook’s entrance
The parcel sits near the entrance to Saddlebrook along State Road 54 and was approved as part of a larger redevelopment plan that reshapes how people enter and move through the property.
That plan includes a future town center with 465 luxury apartments, 25 additional townhomes and roughly 75,000 square feet of retail and office space organized around a walkable promenade.
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Mast and Amzak said more details on that portion of the project will be released later.
For Dream Finders, the deal places new housing directly next to one of Pasco County’s most recognizable resort properties.
“The Townes of Saddlebrook reflects Dream Finders Homes’ ongoing commitment to investing in the Tampa Bay region,” said Andrew Charlson, Tampa Division president for Dream Finders Homes. “This project represents a unique opportunity to join the lifestyle and legacy of an iconic resort in one of the region’s most active growth areas.”
Saddlebrook’s transformation continues
Mast Capital and Amzak have invested $92 million into Saddlebrook since acquiring the resort, restoring amenities designed to attract leisure travelers, corporate groups and events.
Upgrades include redesigned guest rooms, new dining concepts, renovated pool and meeting spaces and a rebuilt 27-hole golf course that can be configured into three 18-hole layouts.
“This land sale reflects a deliberate step in our investment strategy to advance Saddlebrook’s transformation,” said Jordan Kornberg, chief investment officer at Mast Capital. “We have made significant capital improvements to modernize the resort and bring it back to its prior grandeur.”
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JLL managing director Max La Cava said the deal reflects continued demand for residential development in Wesley Chapel, one of Tampa Bay’s fastest-growing communities.
“The project’s location adjacent to Saddlebrook Resort makes it one of the most compelling residential opportunities in the area,” La Cava said.
Saddlebrook sits in northern Pasco County, where population growth, new infrastructure and expanding retail corridors continue to drive development north of Tampa’s urban core.
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