Private equity firm acquires 146 acres in Phoenix West Valley

Disclosure: Rose Law Group represents Quyp Development

Plans 90 single-family homes on one site, a golf course occupies the other.

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Private equity firm Virtua Partners announced Wednesday that it has acquired two properties totaling 146 acres located in the West Valley of Phoenix.

Bennett Meadows is a 28 acre infill residential property located on the northwest corner of Sarival Avenue and W. Harrison Street in Goodyear, Arizona. During escrow, Virtua affiliate Quyp Development was able to increase the lot density by rezoning the property from R1-10 to R1-6. Virtua is currently processing the preliminary plat for a 90-lot single-family residential development and expects to complete the final plat within 6 months. Virtua purchased the project for $2.16MM or $1.72 per square foot.

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December 21, 2017

Quyp Development, Virtua Partners

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