Thursday, September 13, 2012

More Activity in Bridges at Gilbert as Meritage Joins Builder Group with ±$13M Acquisition

VIZZDA—September 13th, 2012 — Meritage Homes purchased approximately 92.7 acres net or 110 acres gross at the Southwest corner Queen Creek & Recker Roads in Gilbert for $13,014,400. This price equals $140,392 per acre or $758 per front foot. The seller was a venture formed by JEN Partners and TerraWest Communities. 

The subject land is divided into parcels 2-1, 2-2 and a combination of parcels 2-3 and 2-4. The parcels are platted for 233 lots: 

VIZZDA previously reported August 17th, 2012 a group of six homebuilders acquiring a total of 596 lots on 132.53 acres in the Bridges “East” community for a total sale price of $23,114,317. Click here to check out that sale.

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