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Coronavirus puts some Valley land deals on ice, sparks new investment

Posted by   /  April 7, 2020  /  No Comments

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Smita Patil Mehta, Anita Verma-Lallian and Eileen Jain Sahai.

(Disclosure: Rose Law Group represents SLM Land Holdings.)

By Corina Vanek | Phoenix Business Journal

The economic downturn resulting from the novel coronavirus has put some Valley land deals on ice, but some industries are still moving forward with land purchases and expansions.

Anita Verma-Lallian, co-founder of SLM Land Land Holdings and marketing director for her family’s company, Vermaland, said both companies have seen some changes as people and companies pump the brakes on major purchases.

SLM Land Holdings, a land investment firm founded in May 2019 that has already bought four parcels in the West Valley, had a fifth parcel in escrow that was planned to close in early May, Verma-Lallian said. However, the firm had to cancel that escrow due to the short time frame and the coronavirus pandemic. The group has already identified another parcel with a longer escrow in Buckeye that the firm might acqure.

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