Porchlight Homes closes on preliminary platted lots in Mesa; Meridian Bank to finance deal

By: Daniel Benson; Belfiore Real Estate Consulting

Porchlight Homes (Scott Peterson, President) recently closed on a site, located near Greenfield Road and Southern Avenue, which has received preliminary plat approval for 17 single-family detached lots. According to submittals to the Mesa Planning and Zoning Commission, the site is being marketed as Leawood and the lots are a typical dimension of 77’x117’. The preliminary plat was approved by the Mesa Planning and Zoning Commission at its January 15, 2014 meeting.

According to public record (click here to view the affidavit), the deal closed February 14, 2014 for $825,000 ($48,529 per lot / $450 per front foot). Recorded documents also show Porchlight obtained a $1,302,000 land loan and a $2,500,000 revolving line of credit from Meridian Bank (click here to view the deed of trust). Porchlight also took out a deed of trust with Noriega Holdings INC (click here to view the deed of trust) for $316,000 (this DOT is in a secondary position to Meridian).

View Larger Map

Share this!

February 19, 2014

family planning, Housing, real estate

Additional Articles

First law protecting consumers’ brainwaves signed by Colorado governor; Paul Coble, intellectual property & artificial intelligence department chair at Rose Law Group, welcomes such measures

By Brad Brooks | REUTERS Colorado Governor Jared Polis on Wednesday signed into law the first measure passed in the U.S. that aims to protect the data

Hundreds of homebuilding permits issued in Apache Junction

(Disclosure: Rose Law Group represents Brookfield Residential and Lennar.) By Richard Dyer | YourValley More than 1,200 building permits for new single-family homes in Apache

Meritage launches new community in San Tan Valley

(Disclosure: Rose Law Group represents Meritage Homes.) By SanTanValley.com Meritage Homes, recognized as the fifth-largest public homebuilder in the United States, has officially announced the

Get Involved

Write a letter to the editor

Write a guest opinion

Submit news

Stay Informed

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

Recent Articles

Shruti Gurudanti, Rose Law Group partner and director of corporate transactions, comments on: 5 steps to survive difficult VC funding

“Venture debt might not work for all startups but it’s definitely a very viable option for more mature startups to close the funding gap.” -Shruti

Here’s why business leaders need to embrace the AI revolution

Rose Law Group and firm Intellectual Property & Artificial Intelligence Department Chair Paul Coble urge businesses across all industries to assemble their AI team By AZ

Rose Law Group, firm Intellectual Property & Artificial Intelligence Department Chair Paul Coble urge businesses across all industries to assemble their AI team

By InBusiness Phoenix Innovative Scottsdale-based Rose Law Group, a full-service law firm that prides itself on hyper-responsiveness to clients’ needs urges Arizona business owners and leaders to take serious care with their company’s AI use. Weekly clients are seeking advice

Economist: If Pinal road tax not renewed, business will suffer

(Disclosure: Rose Law Group represents a coalition of property and business owners throughout Pinal County who have worked to bring new transportation infrastructure to the

BREAKING NEWS: Barrow Neurological Institute performed the procedure for Neuralink’s groundbreaking N1 implant

(Disclosure: Rose Law Group Founder and President Jordan Rose is a member of the Barrow Neurological Foundation Board of Trustees and is co-chair of the

Shruti Gurudanti, Rose Law Group partner and director of corporate transactions, comments on the importance of representations & warranties in M&A deals

“Reps and warranties are often one of the most heavily negotiated parts of a business sale agreement, and it’s critical for sellers to carefully understand

M	T	W	T	F	S	S
					1	2
3	4	5	6	7	8	9
10	11	12	13	14	15	16
17	18	19	20	21	22	23
24	25	26	27	28

Porchlight Homes closes on preliminary platted lots in Mesa; Meridian Bank to finance deal

Additional Articles

First law protecting consumers’ brainwaves signed by Colorado governor; Paul Coble, intellectual property & artificial intelligence department chair at Rose Law Group, welcomes such measures

Hundreds of homebuilding permits issued in Apache Junction

Meritage launches new community in San Tan Valley

News Categories

Get Involved

Stay Informed

Recent Articles

Shruti Gurudanti, Rose Law Group partner and director of corporate transactions, comments on: 5 steps to survive difficult VC funding

Here’s why business leaders need to embrace the AI revolution

Rose Law Group, firm Intellectual Property & Artificial Intelligence Department Chair Paul Coble urge businesses across all industries to assemble their AI team

Economist: If Pinal road tax not renewed, business will suffer

BREAKING NEWS: Barrow Neurological Institute performed the procedure for Neuralink’s groundbreaking N1 implant

Shruti Gurudanti, Rose Law Group partner and director of corporate transactions, comments on the importance of representations & warranties in M&A deals

Post Calendar

Porchlight Homes closes on preliminary platted lots in Mesa; Meridian Bank to finance deal

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!