Land Advisors Organization’s Homebuilding Team facilitates transactions that are bringing more than 400 new multifamily residential units to the City of Maricopa in Arizona
Scottsdale, Ariz. (Nov. 13, 2024) – Land Advisors Organization is pleased to announce that its Homebuilding Team recently facilitated the sale of two adjacent land parcels in the City of Maricopa, Arizona. The transactions are slated to bring 431 new multifamily residential units to one of the nation’s fastest-growing cities.
The parcels are located at the NWC of Porter Road and the Maricopa-Casa Grande Highway in Maricopa, Arizona. Dominium Acquisition LLC completed the purchase of more than 19 acres for $8.26 million and plans to develop a 215-unit multifamily project of garden-style apartments on the site. Roers Companies purchased the adjacent 9.5-acre parcel for $4.166 million, where it plans to build a new 216-unit multifamily apartment community.
The new communities will be located along the frontage of the Maricopa-Casa Grande Highway, where the city’s new Home Depot location opened in September and additional retail is planned. Land Advisors Organization’s Ryan Semro, Bret Rinehart, Ben Heglie, and Ryan Garlick represented the seller, Stonegate BFC LLC, in these two transactions.
“The City of Maricopa was recently recognized as the fifth-fastest growing city in the U.S., and new residential options are greatly needed in the area,” Rinehart said. “These land acquisitions by Dominium and Roers will provide more affordable new residential options while also complementing the area’s burgeoning retail developments.”
Dominium and Roers Companies are recognized as two of the nation's largest and most innovative affordable housing development and management companies. Construction of both communities is expected to begin in Q1 2025.
