Land Advisors Organization Scottsdale team of Ryan Semro, Bret Rinehart, Ben Heglie, Greg Vogel and Mike Schwab represented the Sellers, HE Capital Phase 1 Property LLC (Dallas, TX) in the recent cash transaction completing the purchase of 232 home sites in Surprise, AZ to Lennar Arizona for $17.6+ million.
Of the 232 lots, 112 average 7,200 sq. ft. (60×120) and 120 of the home sites average 8,750 sq. ft. (70×125). Lennar intends to build on the smaller home sites to continue the 212-lot neighborhood called Horizon at Asante. Current pricing in the Horizon subdivision is from the mid-$200,000’s to the low $300,000’s. The larger lots, or a portion of the larger lots, may be sold.