Scottsdale, AZ – Toll Brothers purchased the 40 ± Acres (20 Fully Developed Lots) at the SWC of Peak View Road and Scottsdale Road called “Turquesa Equestrian Estates.” The 20 lots are gated and range in size from 1.4 ± acres – 2.4 ± acres. Mortgage Equities XVII, managed by Mitch Medigovich was the seller in the transaction, a private lender that foreclosed on the subdivision in January 2009.
Toll Brothers purchased the 20 lots for $8.4 million ($420,000 per lot) in this private REO sale. Toll Brothers is currently building south of Turquesa in the “Saguaro Estates.”
The transaction was negotiated by City to City Commercial – Richard Arambula and Dan Krantz.
To learn more, contact Arambula at (480) 688-3018 or Krantz at (480) 729-6809 for more information.