Options Keep on Rolling in Metro Tucson – $1.66 Million in Takedowns

Maracay Homes, D.R. Horton and Richmond American continued rolling options in metro Tucson area for a total of $1.66 million.

Maracay Homes took down 6-SFR lots more at Tortolita Vista for $1,015,673 ($169,279 per lot) in the Northwest submarket of Tucson. These were part of a 54-lot rolling option between Maracay and Ready Eight Corporation that started in September, 2013. With this takedown Maracay has 42-SFR lots in this community that are roughly one acre lots.

Will White and John Carroll of Land Advisors Organization in Tucson represented Maracay in the transaction. To learn more White and Carroll should be reached at 520.514.7454 and visit MaracayHomes.com for more information on this community.

For more details log in and see RED Comp #2788.

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D.R. Horton purchased more SFR lots at Mission Antigua in the western submarket of Tucson. This purchase was the third takedown for 8 finished lots of a 38-lot rolling option for $232,984 ($29,123 per lot) which will bring the subdivision to almost fully build out.

Dan Feig and Aaron Mendenhall of Chapman Lindsay in Tucson represented the seller, Antigua Associates, an affiliate of Red Point Development of Tucson, in the transaction. To learn more Feig and Mendenhall can be contacted at 520.747.4000 and visit D.R. Horton at Mission Antigua.

For more details log in and see RED Comp #2755.

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Richmond American Homes of Arizona, a subsidiary of MDC Holdlings, Inc. (NYSE: MDC), is buying 56-SFR lots at Madera Highlands Villages in the Town of Sahuarita and recently closed on the third takedown for five lots at $411,281 ($82,256 per lot). The roughly one-acre lots were originally developed by the Toll Brothers for luxury home construction and resold to MK Company Southwest of Scottsdale (Keith Holben, principal) during the market downturn. MK Company Southwest is the seller for the rolling option to Richmond American.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction. To learn more White and Carroll should be reached at 520.514.7454 and visit Richmond American Homes

For more details log in and see RED Comp #2687.