A Question of Motive?

Xanterra purchased the tract shown in yellow from Busch Properties on June 13, 2013 for $2.75 million. The assessed value is $388,500. Kingsmill Ownership Map
Busch Properties had purchased the same tract from Colonial Williamsburg on Dec 8, 2006 for $417,700. It’s not a perfect guide but, according to Trulia, the median sales price for homes in the area is still slightly below what is was in December 2006:

23185, Williamsburg median sales prices

What was Xanterra’s motive in purchasing this tract in June of this year?

One Response to A Question of Motive?

  1. The only rational reason is that future revenues from development of this track (residential or otherwise) will far exceed its purchase price!!

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