By Daniel Benson; Belfiore Real Estate Consulting
Ryland Homes (re-entered the Phoenix homebuilding market with the Purchase of Trend Homes) continues to be an aggressive lot buyer throughout the Phoenix MSA. According to public record, Ryland closed on 283 lots within the La Sentiero subdivision in Queen Creek. The purchase included 3 different lot sizes and a mix of finished and partially improved lots. The subdivision was partially built out in 2007 by KB Home which built and sold 25 homes before exiting. The transaction closed 8/13/2013 for $19,596,635 ($69,246 per lot / $927 per weighted average front foot). The sale included: 80 finished/36 partial 60FF lots, 72 finished/44 partial 75FF lots, & 15 finished/36 partial 90FF lots. The seller in the transaction was CCM Parcap Rittenhouse LLC, an entity managed by local investor Jeff Carlson.
