Recently Closed Transactions

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January 5, 2011 – In a court ordered sale, Pinnacle Ridge Holdings purchased 39.47 Acres of land located at the northeast corner of 32nd St & McKellips Rd in Mesa.  The site formerly housed the Mesa Family Golf Center and is zoned C-2 and AG in the City of Mesa.  The purchase price was $3,250,000 | $82,341/Acre.  The seller was Story & Associates.  This transaction was put together by Grant Helgeson, Don McCaul, and Ryan Arp of the Westland Properties Group.

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December 29, 2010 – Woodside Homes purchased (125) developed townhome lots and (1) completed model townhome unit within Lindsay Park, located at the southwest corner of Lindsay Rd & Southern Rd in Mesa, Arizona.  The cash purchase price was $3,000,000 | $23,000/developed lot.  Beal Service Corporation / FDIC, was the Seller.   The lots were being exclusively marketed by the Westland Properties Group on behalf of Beal Service Corporation.  The deal was brokered by Grant Helgeson, Don McCaul, and Ryan Arp of the Westland Properties Group.

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December 16, 2010 – Camelot Homes purchased (7) developed lots within the Sonoran Mountain Ranch Master Plan near 67th Ave & Dynamite Blvd in Peoria.  The cash purchase price was $385,000 ($55,000/Lot).  The Seller for this transaction was Wachovia Bank.  The typical developed lot size is 90’ x 130’.  The deal was brokered by Grant Helgeson, Don McCaul, and Ryan Arp of the Westland Properties Group.

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December 14, 2010 – Woodside Homes purchased 29 developed single family lots known as the Villas at Ocotillo.  The site is located near the southeast corner of Dobson Rd & Ocotillo Rd, within the Ocotillo Golf Course Master Plan in Chandler, Arizona.  The purchase price was $1,450,000 | $50,000/developed lot.  Beal Service Corporation / LPP Mortgage Ltd, was the Seller.   The lots were being exclusively marketed by the Westland Properties Group on behalf of the Seller.  The deal was brokered by Grant Helgeson, Don McCaul, and Ryan Arp of the Westland Properties Group.

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December 6, 2010 – Leavitt Rio Caballo, LLC purchased the Legacy Village project consisting of 35.724 acres / 108 Platted & Engineered 65’ x 130’ lots.  The site is located north of the northeast corner of 163rd Ave & Jomax Rd in Surprise.  The purchase price was $875,000 ($24,493/Acre or $8,101/Lot).  Beal Service Corporation was the Seller.   The Buyer was represented by Grant Helgeson, Don McCaul, and Ryan Arp of the Westland Properties Group.  Buyer Leavitt Rio Caballo, LLC owns the Rio Caballo 120-acre site adjacent to the north of subject property.

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December 2, 2010 – Pinnacle Ridge Holdings (Jeff Blandford, Principal) purchased a 17-Acre parcel of Residential Land located at the southeast corner of Brown Rd & Greenfield Rd in northeast Mesa, Arizona.   This site is currently an active citrus orchard and is zoned R1-15.  The Land was purchased at Trustee Sale for $1,431,000 ($84,176/Acre).  The Beneficiary at the Trustee Sale was JPMorgan Chase Bank.  The site is preliminary platted for (28) 115’ x 130’ single family residential lots.  The Buyer was represented by Grant Helgeson, Don McCaul, and Ryan Arp of the Westland Properties Group.

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September 27, 2010 – A small Private Home Builder purchased 43 fully developed lots with a typical lot size of 45’ x 102’ within the Pecos Manor Community from Pinnacle Ridge Holdings.  The lots are located at the northwest corner of Pecos Rd & Recker Rd in Gilbert.  The purchase price was $1,763,000 ($41,000/developed lot).  Grant D Helgeson, Don McCaul and Ryan Arp of the Westland Properties Group represented the seller Pinnacle Ridge Holdings.

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August 3, 2010 – Shea Homes purchased (42) fully developed 65’ x 120’ lots within the Layton Lakes Master Plan, located at Lindsay Rd & Queen Creek Rd in Gilbert, Arizona.  The purchase price was $3,207,750 ($76,375/lot).  The seller was Lennar Homes.  Grant D Helgeson, Don McCaul and Ryan Arp of the Westland Properties Group represented Shea Homes.  Shea has housing product approvals from City of Gilbert and Layton Lakes HOA.  Shea plans to begin building model and spec homes in September 2010.  Home pricing to be determined.

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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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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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July 7, 2010 – TW Lewis (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 $1,272,891 ($70,716/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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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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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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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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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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