ORLANDO, Fla. — The Walt Disney Company has purchased 965 acres of ranch land in Osceola County, according to recently filed documents. 

• Disney buys 965 acres just south of Disney World
• Land bought for $23M, according to property records 
• It's unclear what Disney plans to do with the land

Disney purchased the site of the BK Ranch from Florida-based BFT Capital Corp. for $23 million. A deed shows the sale was finalized Thursday.

The land is located just southeast of Walt Disney World, near Celebration, a master-planned community, according to property records.

Prior to Disney's acquisition, the land, at one point, was going to be turned into a subdivision. A master plan filed in 2016 called for 3,000 homes, a community center, park areas, as well as commercial and office space. 

It's unclear what Disney plans to do with the newly-purchased land.

Disney World is currently undergoing a transformation, with several construction projects in the works.

Next year, the resort plans to debut its Skyliner gondola transportation system as well as Star Wars: Galaxy's Edge, a themed land at Disney's Hollywood Studios.