By: Daniel Benson | Belfiore Real Estate Consulting
Beazer Homes closed its first deal of the New Year in Arizona with its purchase of the remaining lots in the Tivoli Subdivision, located in Belfiore’s Tolleson Submarket. According to recorded documents (click here to view the affidavit), Beazer closed on 61 – 50’x110’ finished lots on January 13, 2015 for $2,440,000 ($40,000 per lot / $800 per front foot). The Tivoli subdivision is specifically located north of the North West Corner of Broadway Rd and 91st Avenue. The subdivision was partially built out by Monterra Village LLC (Kayvan Sanaiha; Manager) in 2008. The 61 lots purchased by Beazer represent all remaining lots within the subdivision.
The seller in the transaction was Metro Phoenix LLLP (Cambridge Development Corp.; General Partner). Metro Phoenix purchased the same 61 – 50’x110’ finished lots (click here to view the affidavit) back on March 12, 2009 for $1,143,750 ($18,750 per lot / $375 per front foot).
