TUCSON, ARIZONA — One of Tucson’s most successful master-planned communities is getting ready to start construction on a new phase of 464 lots.  Meritage Homes, Lennar and Pulte Homes Homes have teamed up to buy 464 finished lots paying a combined $29.1 million. Meritage Homes paid $16,195,750 for 271 lots (193-40’X115′ and 78-45’X115′) Lennar paid $6,790,000 for 97 finished lots (50X115) and Pulte paid $6,156,000 for 96 lots (45’X115′).

Meritage and Lennar have been building and selling in La Estancia for years and this will be Pulte’s first time in the project. The seller in these transactions was Sunbelt Holdings.

La Estancia, a 556-acre master planned community, offers master-planned living in this prime southeast submarket. Centrally located just off of I-10 and Wilmot Road and nearby some of Tucson’s most prominent employment centers including Raytheon Missile Systems, Davis Monthan Air Force Base, UA Tech Park and Tucson International Airport. Residents benefit from community amenities including a sparkling pool, splash pad, shaded ramadas and play equipment, ready for use.  This new phase will advance development south of Camino Boleadoras and include a new amenity package as well.

“We are extremely pleased to launch this new phase of La Estancia,” said Greg Mohl, Vice President of Sunbelt Holdings. “The project has been in high demand by homebuilders and homebuyers since its grand opening several years ago. We continue to be thankful for our homebuilder partners like Meritage Homes and Lennar that have helped to make La Estancia such a success and we are excited to welcome Pulte Homes to the community.”

The transactions were handled by Will White and John Carroll of Land Advisors Organization. Sunbelt Holdings will continue to advance engineering on a follow up phase with new lots due out to market later in 2021. Land Advisors is handling the marketing.

Will White of Land Advisors-Tucson commented, “La Estanica has surpassed all of its projected metrics and is regarded as one of the best addresses in the Tucson metro area. The focus will be to continue to prepare plats and deliver them as quickly as possible to the project’s homebuilders. Tucson’s housing market continues to heat up and we expect the homebuilders at La Estancia to continue their record performance”

For additional information, White and Carroll can be reached at 520.514.7454.

Scottsdale, AZ – Sterling Real Estate Partners, a value-add focused real estate investment company, announces the sale of Seventh Apartments, one of the trendiest multi-family properties in Uptown Phoenix. This is Sterling’s ninth sale in Phoenix, totaling $155M.

The 286-unit multifamily community is positioned on over five acres and is characterized by its vibrant, mid-century influenced architecture and recently modernized common area amenities.  The property is in an excellent location at 5145 N 7^th St., just north of Seventh Street and Camelback Road.  Sterling Real Estate Partners acquired the property in June 2018 and invested $2M into the property. Sterling converted the courtyards into an outdoor gaming area and a state-of-the-art indoor fitness center with outdoor yoga yard, transformed a dilapidated tennis court to a dog park, and did a complete remodel of the leasing office and clubhouse. Unit interiors were also renovated with modern style finishes, stainless steel appliances, and granite countertops.

Sterling President, David Zeff stated, “This was a very gratifying investment, and we are excited for more opportunities like this one.  Due to the extensive capital improvements, Seventh is now up to date with current multi-family trends.”  The implementation of Sterling’s 6-point value add strategy allowed them to sell the property for $134,000/unit. “Sterling invested a great deal of equity to improve the quality of living for each resident,” said Zeff. This acquisition was brokered by Cliff David and Steve Gebing at IPA.

Sterling Real Estate Partners is known for their strong relationships and reputation for integrity and reliability. Sterling is actively pursuing additional opportunities in Arizona and Texas. For more information contact David Zeff (602) 396-5135, Chris Bade (602) 820-8318 or please visit www.sterling-partners.com

Judge denies request from Native Americans who say land has religious import

SUPERIOR, ARIZONA — A federal judge on Friday said he would not stop the U.S. Forest Service from transferring government-owned land in Superior, Arizona to Rio Tinto Plc for its Resolution Copper project, denying a request from Native Americans who said the land has religious and cultural import.

The judge’s decision is likely to escalate the clash between members of Arizona’s San Carlos Apache Tribe, who consider the land home to deities, and Rio and minority partner BHP Group Plc, who have spent more than $1 billion on the project without producing any copper, the red metal used to make electric vehicles and other electronics devices.

The ruling means the land transfer can now take place by mid-March under a timeline approved by Congress and then-President Barack Obama in 2014.

U.S. District Judge Steven Logan, an Obama appointee, said the group of Native Americans who brought the suit lacked standing and that the government has the right to give the land to whomever it chooses.

Tribal members claimed the U.S. government has illegally occupied the land for more than 160 years, but Logan sided with government attorneys by finding that Washington gained the land in an 1848 treaty with Mexico.

Representatives for the tribe, Rio Tinto and the U.S. Forest Service were not immediately available for comment. BHP declined to comment.

“We remain undaunted,” said Michael Nixon, an attorney for Apache Stronghold, the nonprofit group of Native Americans opposed to the mine.

Rio Tinto and minority partner BHP Group Plc have spent more than $1 billion on the project without producing any copper. (REUTERS/David Gray/File Photo)

Logan’s ruling was related to an injunction request. Apache Stronghold had also asked for a jury trial to determine, in part, whether the U.S. government can give the land away. It was not immediately clear when that trial could take place as U.S. courts have prioritized criminal cases during the coronavirus pandemic.

Some Native Americans work for and support the Resolution project, though many others have vowed to oppose it forcefully.

Logan last month declined to block the publication of an environmental study that started the 60-day countdown for the land swap.

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