VIZZDA—August 14th, 2013 — Ryland Homes through
its signatory, Robert Zambie, purchased 283 lots in La Sentiero—also known as
Rittenhouse Ranch—for $19,596,635. The selling entity included Mr. Jeff Carlson
of Parcap and Mr. Gil Tenzer of Contrarian Capital.
The acquisition includes a mix of partially improved at curb
& gutter and finished lots:
LOT SIZE
|
R1-7 60'X115'
|
R1-8 75'X120'
|
R1-12
90'X130'
|
FINISHED
|
56
|
39
|
15
|
PARTIAL IMPROVED
|
60
|
77
|
36
|
COMMUNITY TOTAL
|
138
|
119
|
51
|
La Sentinero, located north of the northwest corner of
Rittenhouse & Cloud Roads, totals 308 lots on 109.08 gross and 106.49 net
acres for a project density of 2.89 density units per acre. The project was
platted on November 18th, 2005.
The joint-venture between Parcap and Contrarian Capital
acquired the 283 lots transacting today on January 31st, 2008 from
KB Homes for $6,831,663. As part of the sale, KB Homes assigned a phased construction
bond agreement with the town of Queen Creek, which was postponed in exchange
for a lot sale prohibition. As noted in the Vizzda Property Report on the
transaction, Ryland is bound by the same lot sale prohibition agreement but
recently submitted the following plans to the Town of Queen Creek:
This is just a glimpse of the detail VIZZDA offers, sign up
today for real-time market intelligence by calling Kris Thompson at (480)
383-9310 or at vizzda.com.
By:
Hadden Schifman
Managing Director
Vizzda.com
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