Scottsdale company buys master-planned community in New Mexico

master-planned community

By Damon Scott | Phoenix Business Journal

master-planned community
This map shows a layout of the Mariposa East master-planned community in Rio Rancho. Courtesy Griffin & Associates

Rio Rancho, a master-planned community in Albuquerque, has a new owner.

Harvard Investments has purchased the 800-acre property for an undisclosed amount, which now has 130 homes built and 125 lots sold. Harvard Investments is based in Scottsdale, and its parent firm is Canada’s Hill Cos. One of the nation’s largest land brokerage firms, Land Advisors Organization, has listed the property for sale since 2013.

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