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Scottsdale-based Meritage Homes (NYSE: MTH) Steve Hilton, chairman and CEO continues to grow with its best year since 2008 last year as the housing market in Arizona and around the U.S. came back to life. Silverbell West, a newly platted 42-lot subdivision, at the northwest corner of Ina and Silverbell Roads in Marana was recently bought by Meritage for[mepr-show rules=”58038″]$1.68 million ($40,000 per lot).

The seller of Silverbell West, Birkdale Properties, LLC and Prestwick Properties, LLC of Tucson (Douglas Kennedy, manager) sold the property with a final plat approval dated March 2013. The 25.34 acre subdivision has a minimum lot size of 10,000 sq.ft. and average lot dimensions of 84′ x 145′ or 11,628 sq. ft. Meritage has four other communities underway in Marana: Solara, Sky Ranch Estates, Tangerine North and Los Saguaros at Dove Mountain. Solara is wrapping up soon with only six homes remaining.

Meritage Homes Corporation, founded in 1985, engages in designing and building single-family detached homes. It offers a range of homes for various homebuyers, including first-time, move-up, active adult, and luxury. The company provides its homes under the Meritage Homes and Monterey Homes names. It also offers title insurance and closing/settlement services for its homebuyers. The company operates in 158 communities in Arizona, Texas, California, Nevada, Colorado, Florida, and the Carolinas.

Bob Solfisburg of Tucson Realty and Trust Company in Tucson handled the transaction. Meritage’s Corporate office should be contacted at (480) 515-8100. Solfisburg at Tucson Realty & Trust can be reached at (520) 577-7000.[/mepr-show]

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A.F. Sterling Homes through its affiliate Scotia JV 2005, LLP (Randy Agron) of Tucson purchased in an REO sale from Bank of Oklahoma of Tulsa, OK 10 platted lots and two commercial pads at Tanque Verde Village located at Tanque Verde Road and Tanque Verde Village Place for[mepr-show rules=”58038″]$390,000 ($32,500 per lot). The gross area of the subdivision is 12.5 acres, includes 2.7 acres zoned RVC suitable for either residential or commercial development and 10 CR-1 zoned 36,000 sq. ft. SFR lots. The plat dates back to 2007 in the East Valley.

A.F. Sterling Homes has been a Tucson builder since 1987 and is locally owned and operated. The company has been named five times as Southern Arizona Home Builders Association (SAHBA) Builder of the Year, for its high standards, distinctive styling, strict attention to details, and amenities typically found only in custom homes.

Other A.F. Sterling communities include Tortolita Vistas in the foothills of the Tortolita Mountains, Campos Adobes in Northwest Tucson, The Uplands in Oro Valley, and Ventana Reserve in the foothills of the Catalina Mountains that is now sold out. The company also has a Custom Division that builds luxury homes on the client’s own homesite in the Tucson area.

Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented the bank and Robert Grant of Tierra Antigua represented the builder in the sale.

Feig at Chapman Lindsey can be reached at (520) 622-8864 ext 105 while Mendenhall at Chapman Lindsey is at (520) 622-8864 ext 102. Agron with A.F. Sterling can be contacted ay (520) 577-3600 and Grant at Tierra Antigua is at (520) 203-4910.[/mepr-show]

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Many of Arizona’s successful charter schools have long waiting lists with an 8% annual enrollment growth each year. There are a reported, 145,000 students enrolled in 535 charter schools statewide. Here in Tucson, as the school year drew to a close Friday several charter schools were packing to move into new schools for the Fall.

Charter School Capital of Portland, OR dba Arizona College Prep Academy, will be moving from 7444 E Broadway Blvd into the 11,308 sq. ft. retail building (built 1977 and 2007) at 3434 E Broadway in Tucson. The building formerly occupied by BASIS Schools was purchased from BASIS for $1.4 million ($124 PSF). Located on the south side of Tucson’s main thoroughfare, Broadway Blvd. on .95 acres, it is directly across the street from the El Con Mall and Reid Park. The Arizona College Prep Academy will be relocated this summer in preparation for the 2013-2014 school year to commence in August.

Nancy McClure of CBRE in Tucson represented the buyer in the transaction.
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BASIS Schools at 3825 E 2nd Street purchased the property immediately adjacent to the existing school, formerly occupied by Desert Springs Academy, at 3833 E 2nd Street (built 1966) paying $1.65 million for the 8,801 sq. ft building on a 40,132 sq. ft. lot. The staff at BASIS was busy packing Friday in anticipation of the building being razed for construction of a new 2-story 42,468 sq. ft. school at this northwest corner of Alvernon Way and 2nd Street. BASIS currently serves 5th, 6th 7th grades and will introduce kindergarten through 4th grade for the 2013-2014 school year.

Carhuff + Cueva are the architects for the new building.

Desert Springs Academy will be moving to the property it purchased at 10129 E Speedway Blvd for $1.7 million cash ($96 PSF) for the 17,865 sq. ft. in three buildings (built 2003) on 8.9 acres. The property was formerly occupied by TAG Charter School that did not renew its charter for next year. Desert Springs is a K-8 charter school that plans to be open in its new location west of Houghton on Speedway for the coming school year.

Academy Del Sol, a K-8 charter school, is adding a second campus at 7102 W Valley Crest Place in the Star Valley neighborhood, located off Wade Road and Valencia in the West Valley. The school purchased 7.69 acres of vacant land for $1.007 million cash ($3 PSF) under the name of Schoolhouse Star Valley, LLC an affiliate of Schoolhouse Development from a trust managed by Joe Cesar of Broadway Realty and Trust of Tucson. The 32,000 sq. ft. building with 21 classrooms is currently under construction and scheduled to open July 29th for the new school year. The school’s Midtown campus is at 4525 E Broadway Blvd in Tucson.

GT Alley of Broadway Realty and Trust in Tucson represented the seller; while the buyer was self-represented in the transaction.

Mexicayoti Academy of Nogales, AZ a K-8 charter school, purchased from B77 Development, LLC (Clayton Niles, manager) the former charter school at 667 N 7th Ave in Tucson. The 7,627 sq. ft. building (built 1971) on a 20,328 sq. ft. lot sold for $475,000 ($62 PSF). Located at the southeast corner of 4th Street and 7th Avenue and close to U of A, this former charter school is in the West University Historical District. The building has fire retardant sprinklers, an alarm system and was designed to add a future 2nd floor. There are 8 back-in parking spaces on the street and 23 secured parking spaces of which 5 are covered. The transaction was an REO sale; the seller was also the lender in a seller carry back to the former charter school when it closed.

Gary Best and John Hamner of Keller Williams of Southern Arizona Commercial in Tucson represented the seller and Rafael Douglas of US Preferred Realty in Mesa represented the school.

For more information on Arizona College Prep Academy call (520) 722-1200. McClure at CBRE can be reached at (520) 323-5117. BASIS Schools can be contacted at (520) 326-3444. Desert Springs Academy is at (520) 321-1709. Academy Del Sol should be contacted at (520) 325-2800. Alley with Broadway Realty & Trust is at (520) 747-5700.

For more information on Mexicayoti Academy call (520) 287-6790. Niles can be reached at (520) 615-9500. Best and Hamner of Keller Williams Southern Arizona Commercial are at (520) 615-8400. Douglas of US Preferred can be contacted at (480) 756-9922. [/mepr-show]