April 19, 2024 4:37 pm
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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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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.