April 25, 2024 6:35 am
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Meritage closes on deal in Verrado

verrado

By: Daniel Benson; Belfiore Real Estate Consulting

verradoAccording to Michael IlesCremieux  (Meritage Homes’ Regional Vice President, Land Acquisition), Meritage closed on its 8th deal of 2013 on November 19, 2013. Meritage purchased (61) 55’x120’ final platted lots from DMB Associates within DMB’s Verrado master planned community. Meritage closed the deal for $2,525,400 ($41,400 per platted lot / $753 per platted front foot). DMB entitled and will develop the lots for a guaranteed finished lots cost of $1,200 per front foot. The deal is being land banked with Community Development Capital Group (Steve Benson).

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