D.R. Horton (NYSE: DHI) bought 60-lots at The Pines Phase II in Marana for $2.28 million, or $38,000 per finished lot, as part of an option agreement for 123-lots with Terrazzo Homes of Tucson. The lots are on average 40’x 85’ and the builder has introduced an all-new product line ranging in size from 1,613 to 2,969 sq. ft. that take best advantage.
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[mepr-show rules="58038"]D.R. Horton, a Texas-based company is one of the largest homebuilders in the United States, operating in 26 states and 77 metropolitan markets.
The Pines is located north of Arizona Pavilions in the shadow of Sombrero Peak, on the 18-hole Quarry Pines Golf Course, with a mix of dramatic elevations and stunning mountain views.
This gated community with community pool is D.R. Horton’s newest community.
The Pines was developed by Standard Pacific of Tucson in 2007. Phase I has 129-lots on 21 acres with home builders such as D.R. Horton and Maracay Homes committed. Phase II of the Pines is a total of 265-lots on approximately 30 acres, plus 25 acres of open space and common area. D.R. Horton is the first builder commitment in Phase II.
The Pines is open and selling now, with five models. Hours are 9:30 – 5:30 every day, except Wednesday when it opens at noon- 5:30.
Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson handled the transaction for seller and builder.
Feig should be reached at (520) 747-4000 ext. 103 and Mendenhall is at (520) 747-4000 ext. 102. The Pines sales office can be contacted at (520) 575-5108.[/mepr-show]