November 18, 2024 6:47 am
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60 acres near South Mountain purchased

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By AZRE

An Investment firm, Virtua Partners, acquired 60 acres near South Mountain at the northwest corner of 35th Avenue and Carver Road with plans to revise existing entitlement on the land for single-family residential housing.

After Virtua Partners revises the entitlements on the land, it plans to sell the property to a home builder.

Disclosure: Rose Law Group represents Virtua.

The land was purchased for $18,333-per-acre, or $1,099,980. Previously, the land had been approved for 22 custom lots and 99 patio homes.

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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.