(Disclosure: Rose Law Group represents Ashton Woods.)
By Real Estate Daily News
The Star Valley master-planned community continues to be “main and main” for homebuilders in Tucson’s southwest sub-market. Ashton Woods/Starlight Homes closed on 255 finished lots that will serve as their initial purchase in the Tucson market. The builder paid $24,790,875 ($97,219 per lot) for the finished lots.
The seller in the transaction was the developer, GAC Star Valley, LLC, a partnership managed by Sunbelt Holdings, including Rick Andreen and Mike Geddes of Phoenix. The project was initially purchased by Geddes and Andreen of Scottsdale in 2019. Earlier in 2020, Geddes and Andreen partnered with Sunbelt Holdings to develop the remainder of the project. Sunbelt Holdings has established itself as one of the largest master developers in the Tucson region, developing well-known projects such as La Estancia, Red Rock Village, Sycamore Canyon, Monarch in Marana, and the anticipated Verano MPC later this year. Star Valley has sold and developed over 1,000 lots to the project’s homebuilders over the past 48 months.
