Home Builders See More Success with Recent Lots Purchased in Tucson

DR Horton has seen some success in the southern submarket of Tucson. In Sahuarita Highlands DR Horton took down an additional five finished SFR lots for $225,923 ($45,185 per lot); its second to last takedown from Tucson-based, Red Point Development (Daniel Leung, president) in this one-acre + lot subdivision.

Dan Feig and Aaron Mendenhall of Chapman Lindsay in Tucson represented the seller in the transaction.

DR Horton also purchased more lots at Mission Antigua in the western submarket of Tucson. This purchase was for 11 finished lots of a 38-lot rolling option for $308,000 ($28,000 per lot) which will bring the subdivision to almost full build out.

Dan Feig and Aaron Mendenhall of Chapman Lindsay in Tucson represented the seller, Antigua Associates, an affiliate of Red Point Development, in the transaction.

Maracay Homes purchased six more lots at Tortolita Vistas for $999,259 ($166,543 per lot) for the 1-acre lots in this Northwest community, off Tangerine and Thornydale Roads. This is the second takedown for Maracay here, with an option for 54 total lots. The rolling option was negotiated this past October.

Will White of Land Advisors Organization in Tucson represented Maracay Homes in the transaction.The seller was Ready Eight Corporation (David Mehl, manager).

Pepper Viner at Civano III purchased two more lots in Civano for $121,916 ($60,958 per lot) from Spectrum Capital Partners (Matt Horn, manager) of Tucson. This southwest community has been very successful for Pepper Viner.

Petrus-Crown West purchased the last remaining 61.86 acres of land in Pomegranate Farms Master Planned Community for $375,000 ($6,062 per acre) in a REO sale from Great Western Bank. Petrus already owned 586 acres in Pomegranate Farms, a community is the southwest submarket, and purchased this last piece designated as commercial in the master plan. The property had no improvements, no utilities, and was purchased as raw land to hold for future development. For more information on Pomagranate Farms go to: https://realestatedaily-news.com/4-2-million-reo-pomegranate-farms-new-owner-petrus-crown-west/

Will White of Land Advisors Organization in Tucson represented Petrus in the transaction. The bank was self-represented.

To learn more Feig can be reached at 520-747-4000 x103 and Mendenhall is at 520-747-4000 x102. White can be contacted at (520) 514-7454.

[mepr-show rules=”58038″]Sahuarita Highlands lots: Sale date: 6/25/2014. All cash. Lots 17-19, 139 & 140.
Mision Antigua lots: Sale date: 7/24/2014. All cash. Lots 7, 20, 26, 27, 30, 46, 51, 53, 56, 57 & 60.
Tortolita Vistas lots: Sale date: 7/7/2014. $871,759 down, seller carryback. Lots 94-96, 134-136.
Civano Block 2 lots: Sale date 7/29/2014. Lot 20 & 28.
Pomegranate land: Sale dtae 7/9/2014. All cash. Proeprty is SW of Valencia & Valhalla Rd[/mepr-show]