By: Daniel Benson; Belfiore Real Estate Consulting
After previously disposing of its Sonoran Vista land holdings to Starwood Land Ventures back in 2008, D.R. Horton has now bought all remaining finished lots back from the land investor. Sonoran Vista is located at the southwest corner of Watson and Broadway Roads in Buckeye. According to public record (click here to view the affidavit), Horton closed on 258 finished lots within Sonoran Vista on May 13, 2014. The sale included 126 – 53’x115’ and 132 – 58’x120’ finished lots and closed for $7,998,000 ($31,000 per lot / $558 per weighted average front foot).
Starwood previously purchased the same 258 lots back on October 9, 2008. According to public record (click here to view the affidavit), Starwood paid Horton $2,675,000 for the lots ($10,368 per lot / $187 per weighted average front foot).
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