Aggregate sales of $6.21 Million closed in Southwest Submarket for Tucson Home Builders from March 25-April 1, 2014

Richmond American Homes of Arizona (James Gaulin, Director of Land Acquisition) closed on 114 SFR lots at Westview Pointe for slightly more than $2.9 million ($25,458 per lot). The lots were partially complete having been started in 2000 by Red Point Development then halted in 2008; property sold with re-approval of plat needed.

Located at Ajo & Camino de Oeste, Westview Pointe has 70’x 115’ lots, and mountain vista views of the Tucson Mountains. Richmond will be building their Brittania and Thomas models here, both two-story homes to take full advantage of the views.

Gaulin told us Richmond American has 12 active communities in Tucson and he anticipates Westview to start building in June, for an August opening, along with Sycamore Canyon making 14 Richmond American communities in the Tucson area.

Dan Feig and Aaron Mendenhall of Chapman Lindsey Commercial Real Estate handled the sale for the seller while the buyer was self-represented.

Rancho Sahuarita VIII, LLC an affiliate of Sharpe & Associates (Bob Sharpe, manager) sold 65- finished SFR lots to KB Home Tucson, Inc. at The Presidios at Rancho Sahuarita for $2.86 million ($44,000 per lot). The lots are 40’x 110’ and part of the Rancho Sahuarita master planned community.

Ted Herman with Sharpe & Associates of Tucson represented the seller in the transaction.

D.R. Horton took down a final option in a rolling option for 10-finished SFR lots at Sahuarita Highlands for $446,402 ($44,640 per lot). This concluded a total of 153-SFR lots for D.R. Horton in this subdivision that started in 2013 with Red Point Development as the seller.

Home models are 2-stories ranging in size from 2,000 t0 4,000 square-feet on oversized one acre lots.

Dan Feig and Aaron Mendenhall of Chapman Lindsey Commercial Real Estate represented the seller in the transaction while buyer was self-represented.

Feig and Mendenhall at Chapman Lindsey should be contacted at (520) 747-4000. Hermann with Sharpe & Associates can be reached at (520) 299-8766.

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Sale date on Westview Point: 3/25/2014. All cash deal. Lots 1 thru 114 and Common Areas A & B Westview Pointe bk 61 pg 31. APN: 119-45-023 thru 138.

Sale date on The Presidios at Rancho Sahuarita: 4/1/2014. All cash deal. Lots 863 thru 927 The Presidios at Rancho Sahaurita bk 60 pg 25, easements, rights, benefits and obligations. APN: 305-77-863 thru 927.

Sale date on Sahaurita Highlands: 3/28/2014. All cash. Lots 20-25, 134-136 & 141 Sahuarita Highlands bk 59 pg 90. APN: 303-54-044 – 049, 158-160, & 165.

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Tucson’s blue neon landmark, the Viscount Suite Hotel is facing a trustee’s sale on an $8.5 million loan. The 216-room hotel on four floors is located at 4855 E. Broadway Blvd. in Tucson, east of Swan on Broadway Blvd.

Viscount Partners LLC, an affiliate of HSL Properties of Tucson (Humberto Lopez) holds the note. Local developer Joseph Cesare owns the hotel through his company Broadway Hotel One. Viscount Partners LLC purchased the mortgage from National Bank of Arizona in 2011 for $4.5 million.

Many local hotels have faced bankruptcy and foreclosure over the past few years due to the recession. The most recent being the JW Marriott Starr Pass Resort and Spa that filed receivership in 2011, and planned a trustee’s sales in 2012 that was postponed. The property is again facing auction as reported previously in the Real Estate Daily News.

The Westin La Paloma was sold emerging from Chapter 11 in 2012.

Pima County records also indicate that Broadway Hotel One owes unpaid property taxes since May 2010, totaling more than $950,000 with interest for the Viscount.

The property is scheduled for auction on May 8 on the steps of Pima County courthouse. Western Regional Foreclosures is handling the sale and can be reached at (623) 581-3262.

Maracay Homes took down six more lots at Tortolita Vistas for $966,000 ($161,000 per lot). The new gated community in Marana is now open. Conveniently located just north of Tangerine Road on Thornydale Road, the Tortolita Vistas community is set in the foothills of the Tortolita mountain range and surrounded by stunning views. These over-sized one acre home sites also feature lush desert open space.

Maracay entered into an agreement with Ready Eight Corporation of Tucson (David Mehl, manager) for a total of 54-lots in this community this past October.

Tom Lemmon, VP of Land Acquisition at Maracay Homes, said at that time, “Tortolita Vistas is an extraordinary community and the perfect Tucson-area enclave to introduce Maracay Homes’ New Arizona Living Collection of home plans, ranging from approximately 2,777 to 3,978 square feet.”  Each plan includes FlexDesign® selections to customize your home to meet your family’s individual needs. All homes are Energy Star® certified and include Maracay Homes’ LivingSmart® program for high performance and cost efficiency.

Tortolita Vistas lies within the Marana Unified School District, which governs the schools neighboring our community, including Ironwood Elementary School, Tortolita Middle School and Mountain View High School. Two charter schools — Legacy Traditional School Tucson and BASIS Oro Valley, also are located nearby. Learn more about each school’s academic performance and how they compare with one another by checking out these helpful websites: https://www.greatschools.org/ and https://www.azed.gov/.

Will White of Land Advisors Organization in Tucson represented Maracay in the transaction.

White told our reporter, “There are continued signals of strong demand in higher price points in this area. That coupled with lot inventory at a 4-year low, we feel that is going to continue to be the case. The main story is Econ 101, ‘Supply vs. Demand’, and because of that we continue to see very strong interest in the latest offerings along the Twin Peaks/Tangerine corridors”

White should be reached at (520) 514-7454 and visit www.MaracayHomes.com for more information.

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[mepr-show rules=”58038″]Sale date: 4/4/2014. Down Payment: $861,000, with seller carry back for the balance. APN: 219-36-022, 039, 040, 070, 071 and 072. Legal: Lots 15, 97, 98, 128 thru 130 Tortolita Vistas Bk 62 Pg 44 (aka portion sec 31 T11S R13E) Lot premiums are baked into the price per lot we were told.  [/mepr-show]