D.R. Horton closes on 172 finished lots in south Buckeye for $6.5M

D.R. Horton

D.R. HortonBy Daniel Benson | Belfiore Real Estate Consulting

D.R. Horton closed on two transactions totaling a combined purchase price of $6,501,600.  The seller in the deal was Crown-Phoenix VIII LLC & Crown-Phoenix X LLC (Voyager Properties – Manager; Mark A. Voigt & David K. Rogers).

The deals included 88 – 58’x115’ finished lots and 84 – 50’x115’ finished lots within the Watson Estates MPC, specifically located southwest of the SWC of Watson and Yuma roads in south Buckeye. The first deal included 88 – 58’x115’ finished lots and closed on December 17, 2014 for $3,326,400 ($37,800 per lot / $652 per FF).  The second deal included 84 – 50’x115’ finished lots and closed on December 17, 2014 for $3,175,200 ($37,800 per lot / $756 per FF).  Both deals also included a deed of trust securing additional consideration in the amount of $4,000/lot due upon each retail home closing. The additional consideration is for an impact fee reimbursement due to the seller.

Another recorded document shows Horton has an option to purchase a second takedown from Crown/Voyager.  The memorandum between Horton & Crown gives Horton the right to purchase an additional 48 – 58’x115’ & 88 – 50’x115’ finished lots within Watson Estates.

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

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.