Mattamy Closes Second Deal at Dove Mountain for $8.7 Million

Mattamy Homes,closed on its second deal within the Tucson market on July 10, 2014 for $8.7 million ($50,613 per lot). The deal consisted of 172 platted and engineered lots (106 – 60’x120’ / 66 – 70’x120’), located in the Dove Mountain Master Planned Community in Marana. The seller, Cottonwood Properties (David Mehl) of Tucson will be developing the lots for Mattamy at a guaranteed price of $1,350 per finished front foot.

Ryan Huffman, Vice President of Land Acquisition and Development for Mattamy Homes anticipates opening for sales at the Dove Mountain community in the spring of 2015.

Mattamy closed on its first Tucson deal last month when it purchased a 48-acres of raw land within the Rancho Vistoso Master Planned Community in Oro Valley. That deal closed June 13, 2014 for $4,900,000 ($101,282 per acre). Mattamy will soon be preliminary platting the site for approximately 100 lots. Lot sizes are yet to be determined.

Will White and John Carroll of Land Advisors Organization in Tucson represented the seller and the builder in the transaction at Rancho Vistoso. There were no broker involved in the second transaction.

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[mepr-show rules=”58038″] Sale date July 10, 2014. All cash. Sale Price: $8,705,357 ($50,612.54 per lot). APN: 218-31-002D [/mepr-show]