Shea Homes Active Adult strikes again with $59.5 Million Tegavah closing

Tegavah

By: Daniel Benson; Belfiore Real Estate Consulting

After just recently announcing another Trilogy community planned in Wikenburg (click here to view the story), Shea Homes has closed on the Tegavah residential-golf community located in Maricopa County, specifically at the north east corner of 172nd Street and Rio Verde Drive.  The deal included the 18-Hole Tegavah Golf Course and all future residential acreage surrounding the course  (formerly known as the Vista Verde Golf Course).  The transaction closed Friday October 17, 2014 for $59,500,000 (click here to view the affidavit).  Tegavah Construction LP (Shea Homes) put down $41,600,000 and took out a seller loan in the amount of $17,900,000.  The seller was Vista Verde 2013 LLC which is a joint venture entity formed by Jen Partners, Brookfield Residential Properties Inc, and TerraWest Communities LLC.

The deal was brokered by Nate Nathan and Courtney Buck of Nathan & Associates Inc., they can be reached at (480) 367 -0700.


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