NORTHWEST SUBMARKET
Maracay Homes purchased six more lots at Tortolita Vistas for $955,845 ($159,307 per lot) for the 1-acre lots in this Northwest community, off Tangerine and Thornydale Roads. This is the fourth takedown and 25-lots to-date for Maracay here, with a rolling option for 54 total lots that was started October, 2013.
Will White of Land Advisors Organization in Tucson represented Maracay Homes in the transaction. The seller was Ready Eight Corporation (David Mehl, manager).
SOUTHERN SUBMARKET
D.R. Horton (NYSE: DHI) bought 68-platted lots at Rancho Resort in Sahuarita for $750,000 ($11,029 per lot). The seller was the Canadian-based OBASA Group of Companies of Saskatoon, Saskatchewan, Canada (Gordon Doell, CEO). The lots are in a 45+ Active Adult Community and a portion of a larger 326-lot planned subdivision on 127-acres at I-19 and Helmet Peak Road interchange.
The Real Estate Daily News reported the acquisition of the property in May 2013. (Click here for full story) The seller had improved the property by making lot line adjustments to the plat.
Thrac Paulette of Vast Real Estate Solutions in Tucson handled the transaction that closed October 1 for both buyer and seller.
WESTERN SUBMARKET
D.R. Horton also purchased 19-finished lots at Sunset Pointe at Midvale Park for $608,000 ($32,000 per lot). The subdivision was platted in 2007 with a minimum 3,600-square-foot lots in this 55-lot subdivision on 8.76 total acres. The seller was D.B.S. Midvale, LLC (Bill Estes, Jr.) of Tucson. D.R. Horton has an option for the balance of the lots.
Dan Feig and Aaron Mendenhall of Chapman Lindsey represented D.R. Horton.
SOUTHWEST SUBMARKET
Rosemont Copper Company (Rod Pace, CEO) exercised an option agreement on 1,779 acres of ranch land for $5.28 million ($2,967 per acre) located west of Green Valley in Township 18 South - Ranges 10 & 11. The seller was AV Holdings LLC, an affiliate of Diamond Ventures of Tucson (Chad Kolodisner, Executive Vice-President).
SOUTHEAST SUBMARKET
Rosemont Copper Company also acquired 14.4 acres in Vail for $129,600 ($9,000 per acre). The seller was a Lucy Ann Fund. The property is located east of Hwy 83 in Township 18 South – Range 16 East.