November 17, 2024 3:30 pm
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Land-banking joint venture buys home lots

Rendering via W Holdings

By Angela Gonzales | Phoenix Business Journal

Houston-based David Weekley Homes just closed on $60 million in Valley lot purchases at two established master-planned communities, thanks to a new land banking joint venture with Varde Partners, a Minnesota-based global alternative investment firm.

The land banking partnership paid $37.15 million for 334 lots at the Verrado master-planned community in Buckeye and another $22.98 million for 272 lots at Ware Farms in Queen Creek, according to Tempe-based real estate database Vizzda LLC.

Read the full subscription story from the Phoenix Business Journal.

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