KB Homes is back at Gladden Farms acquiring a tentative plat for 138-lots in this Northwest community for $1.859 million ($13,471 per lot). The seller, Petrus Partners, Ltd., operating in Tucson under the name of Crown West Land Group sold the 50’x 120’ tentative 138-lots to KB Homes with deferred consideration on the homes when they sell.
Will White and John Caroll of Land Advisors Organization in Tucson handled the transaction for buyer and seller.
Pulte Home Corporation (NYSE:PHM) paid $1.008 million ($29,647 per lot) for 34 platted lots at Dove Mountain in Marana in the Del Webb at Dove Mountain Active Adult Community where it is planning to build approximately 650 homes on 208 acres when complete. This is the second phase of a five phase option agreement with Cottonwood Properties, Inc. and DM Phase IV Investments, LLC (David Mehl, CEO).
Del Webb Corporation was acquired by Pulte Home in 2001 and is a leading builder in active adult communities. The Del Webb at Dove Mountain Community will be located southwest of the Ritz Carlton Resort off Dove Mountain Blvd and have reportedly a mixture of 40′, 50′ and 60′ wide lots.
Bob Hadd of The Hadd Company represented the seller in the transaction.
In a separate transaction, Pulte Home bought approximately 116 acres in the vicinity of Tanque Verde and Houghton Road in Northeast Tucson for $4.14 million ($84,480 per lot). The Desert Willow Ranch is to be a gated community that sold 49-fully entitled lots on 41 acres surrounded by a conservation natural area that runs along the Agua Caliente Wash. The lots will be 12,500- and 18,000-square-feet in size. The seller was Tucson developer, Richard Price.
To learn more White and Carroll should be contacted at 520.514.7454. Hadd can be reached at 520.403.2812.