Disney buys raw land in Osceola County for $23m

The Walt Disney Company paid $23m for 965 acres of raw land in Osceola County, Florida. The land is located just southeast of Walt Disney World, near near Disney's master-planned community, Celebration. The property, formerly the the site of BK Ranch, is currently zoned for 3,000 homes, a community center, park areas as well as commercial and office space. However, the property’s court-appointed receiver, Jerry McGratty, said Disney wants to use the land for conservation and water management. The seller was BFT Capital Corp.