Veneto
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July 16, 2010 – Lexin Capital (Metin Negrin, Principal) purchased 51 fully developed lots from the FDIC for $1,402,500 ($27,500/lot) at the Veneto gated subdivision located off of 19th Avenue and Baseline in Phoenix. The typical lot size is 65′ x 125′. The Seller was represented by Grant Helgeson, Don McCaul and Ryan Arp of the Westland Properties Group. The lots were being exclusively marketed by the Westland Properties Group on behalf of the FDIC.
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Surprise Farms
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July 7, 2010 – Beazer Homes purchased (232) fully developed lots within the Surprise Farms Master Plan Phase 4, located off of 173rd Avenue & Greenway in Surprise. The purchase price was $6,449,600 ($27,800/lot | $456/LFF) and the seller was DBSI. These lots were sold in an Auction that was held in the offices of Pew & Lake in Mesa, and presided over by the Bankruptcy Court-appointed Trustee and representatives of the DBSI Creditors Committee. Grant Helgeson, Don McCaul and Ryan Arp of Westland Properties Group had been professionally retained by DBSI during the course of their bankruptcy to handle the disposition of the lots at Surprise Farms.
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Landing at Reid’s Ranch
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July 7, 2010 – TW Lewis Homes (Tom Lewis, President) purchased (18) fully developed lots within the Landing at Reid’s Ranch subdivision at Chandler Heights & Gilbert Rd in Chandler. The typical lot size is 125’ x 144’. The lots were purchased at Trustee Sale for $1,317,500 ($73,194/Lot). The Beneficiary at Trustee Sale was Compass Bank. The lots were originally developed by Amberwood Homes. TW Lewis Homes plans to build homes on these lots to sell to third party homebuyers. The Buyer was represented by Grant Helgeson, Don McCaul, and Ryan Arp of the Westland Properties Group.
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Villa del Lago
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July 6, 2010 – Pinnacle Ridge Holdings purchased 14.7 Gross Acres of vacant residential land known as Villa del Lago. The site is located at the southeast corner of Dobson Rd & Ocotillo Rd, within the Ocotillo Golf Course Master Plan in Chandler, Arizona. The purchase price was $2,400,000 | $163,265/Gross Acre | $3.75/sf. Beal Service Corporation was the Seller. The Buyer was represented by Grant Helgeson, Don McCaul, and Ryan Arp of the Westland Properties Group.
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Calabria
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May 17, 2010 – Pinnacle Ridge Holdings, LLC, purchased a 30.18 gross / 28.93 net acre land parcel known as Calabria from the FDIC. The site is located north of the northwest corner of Cooper Rd & Chandler Heights Rd in Chandler, Arizona. Site is zoned and preliminary platted for 47 lots with a typical lot size of 120’ x 150’. The purchase price was $1,425,000 | $47,216/Gross Acre | $30,319/Preliminary Platted Lot. Grant D Helgeson, Don McCaul and Ryan Arp of the Westland Properties Group represented the buyer.
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Cottonwood Ranch
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May 10, 2010 – Quantum Capital purchased (197) fully developed lots from Meridian Bank, for $2,265,500 ($11,500/lot) at Parcels D and E of the Cottonwood Ranch Master Plan located off of Cottonwood Ln & Trekell Rd in Casa Grande. The two parcels consist of (197) 50’ x 115’ fully developed lots. Quantum Capital plans to hold the lots and sell to homebuilders at a later time. The Buyer was represented by Grant Helgeson, Don McCaul, and Ryan Arp of the Westland Properties Group.
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Tortosa
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April 28, 2010 – Quantum Capital purchased (135) fully developed lots from Pinnacle Ridge Holdings, LLC, for $1,782,500 ($13,203/lot) at Parcels 1 and 8 of the Tortosa Master Plan located off of Honeycutt and Hartman Roads in Maricopa. Parcel 1 consists of (53) 40’x113’ fully developed lots and Parcel 8 consists of (82) 45’x120’ fully developed lots. The lots were purchased earlier by the Seller at Trustee Sale from Wachovia Bank. Quantum Capital plans to hold the lots and sell to homebuilders at a later time. The deal was brokered by Grant Helgeson, Don McCaul, and Ryan Arp of the Westland Properties Group.
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Barcelona
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April 26, 2010 – Quantum Capital paid $2,214,500 ($25,750/lot) to Snowden Partners (Scott Curtis, Manager) for 86 fully developed lots with a typical lot size of 55’x115’ at the Barcelona Master Plan. Barcelona is located on the northwest corner of 27th Avenue and Southern Avenue in Phoenix. The transaction was brokered by Grant Helgeson, Don McCaul and Ryan Arp of the Westland Properties Group. The Quantum Capital organization is going to hold the property for investment purposes and sell to homebuilders at a later date.
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Rancho Mirage
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April 9, 2010 – Quantum Capital purchased 74 fully developed lots within the Rancho Mirage Master Plan in Maricopa for $1,115,000 ($15,000/lot) from CTSD Investments. The Rancho Mirage master plan is located southwest of Honeycutt and Hartman Roads in Maricopa, Arizona. The typical lot sizes of the 74 lots sold are 55’ x 115’ and 65’ x 120’. The sale was negotiated by Grant Helgeson, Don McCaul, and Ryan Arp of the Westland Properties Group who represented Quantum Capital. The Quantum Capital organization is going to hold the property for investment purposes and sell to homebuilders at a later date.
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Estates at 44th St
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April 5, 2010 – Pinnacle Ridge Holdings paid $1,200,000 cash to purchase 14.44 acres of R1-10 zoned residential land at the NEC of Dynamite Road and 44th St. in North Phoenix. The property is called The Estates at 44th Street and is currently preliminary platted for 35 lots with a typical lot size of 80’ x 125’. The Seller was The Estates at 44th Street, LLC. The deal was brokered by Grant Helgeson, Don McCaul and Ryan Arp of the Westland Properties Group.
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