U.S. mass media and entertainment company Walt Disney World Co. has acquired a ranch in Florida near a Disney resort community for $23 million.
The Osceola County ranch is situated about 10 miles south of Walt Disney World and is zoned for development.
The property is slated for 3,000 homes and 378,000 square feet of commercial and office space.
In 2014, Disney acquired a 3,000-acre resort community called Mira Lago.