By: Daniel Benson; Belfiore Real Estate Consulting
Lennar sold four different parcels within its Layton Lakes Master Planned Community, which spans both Gilbert and Chandler along the city borders. The deal closed February 26, 2014, and both Maracay Homes and Taylor Morrison were buyers. All of the lots sold were specifically located in the Chandler section of Layton Lakes. The lots are currently at a preliminary platted status, although final plats are scheduled to be approved within the month. The lots are also currently being at-risk graded. Belfiore Real Estate Consulting’s client CRA (Michael Martindale, Principal/Designated Broker) had the listing assignment.
According to public record, Maracay purchased parcel 22A (click here to view the affidavit), which included 47 – 90’x140’ lots, for $5,199,304 ($110,623 per lot / $1,229 per front foot).
According to public record, Taylor Morrison purchased three parcels for a combined purchase price of $16,575,886. The breakdown of the purchase is as follows; Taylor Morrison purchased Parcel 24A (click here to view the affidavit), which included 83 – 50’x110’ lots, for $4,898,692 ($59,020 per lot / $1,180 per front foot). Taylor Morrison purchased Parcel 22B (click here to view the affidavit), which included 49 – 90’x140’ lots, for $5,420,551 ($110,623 per lot / $1,229 per front foot). Taylor Morrison also purchased Parcel 27 (click here to view the affidavit), which included 90 – 60’x110’ lots, for $6,256,643 ($69,518 per lot / $1,159 per front foot).
