AZRE | AZBigMedia
Maracay, a wholly-owned company of the TRI Pointe Group, has closed on 266 premium homesites located in the Madera master-planned community in Queen Creek.
Maracay paid $11.46 million for the 266 homesites, which have been purchased on a guaranteed finished basis that will total $25.15 million. The transaction between Maracay and the two sellers, Delaware entities owned by Communities Southwest, was brokered by Nate Nathan of Nathan & Associates in Scottsdale.
Located on Signal Butte Road, south of Queen Creek Road, the land parcel is being developed into a single-family community, and is expected to open to the public by late 2021. The new community will feature three sizes of homesites, offering both single- and two-story homes ranging from 1,850 to 4,200 square feet. The largest homesites will feature all one-story floor plans, with select floor plans offering attached RV garages. Maracay anticipates the community will open for sales in late 2021.