(Disclosure: Rose Law Group represents Lennar and Richmond American.)
By Real Estate Daily News
TUCSON, ARIZONA (September 27, 2024) — Lennar Arizona, Inc. (Tom Gansheimer, Division President) and Richmond American (Michael Del Castillo, Division President) paid just over $30,000,000 for 254 finished lots known as Block 1 at the new Monarch master-planned community in Marana. The lots were a mix of 50’ and 60’ X 120’. This acquisition concludes a total of 541 lots sold in the past 90 days and wraps up the lot purchases in Phase 1 of the 450-acre project.
Monarch is located in the heart of north Marana on Moore Road and Sandario. The first phase of Monarch is located across the street from the Marana Municipal Complex. The lots were sold by the developer, SBH Marana LP, an affiliate of Sunbelt Holdings (Sean Walters, President). Sunbelt Holdings continues to substantially grow its lot delivery program in Tucson with multiple, large-scale projects around the Tucson metro area.
The Monarch masterplan is currently under construction and is one of North Marana’s most anticipated new projects. In June, Lennar purchased 287 additional lots, bringing the total to 419 lots at Monarch. Future phases of lots are being prepared now for mid-2025 and into 2026. The project will be planned and developed for a variety of residential and commercial uses.
