Lennar snags 444 lots near TSMC’s $265B Phoenix project for $60M

One of the nation’s largest homebuilders has secured 444 lots near the Taiwan Semiconductor Manufacturing Co.’s $265 billion development in north Phoenix.

AGWIP Asset Management, land banker for Miami-based Lennar Corp. (NYSE: LEN), plopped down $60.14 million in cash for the land spanning 132.24 acres near 117th Avenue and the Deer Valley Road alignment on Maricopa County land, according to Tempe-based real estate database Vizzda LLC.

Closing on Sept. 15, the seller in the transaction is Phoenix-based Aroundtown Agua Fria LLC, which plans to bring an additional 2,000 lots in that surrounding area to market within the next three years.

Lennar could not be reached for comment.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story. 

Related

What’s next after The Salted Knot pretzel shop closes in downtown Mesa?Spectrum takes over Cox in Phoenix, promises a free year of mobileMesa City Council approves agreement for historic mixed-use project near Gateway AirportThese 7 local restaurant brands are coming to Sky Harbor International AirportNation’s largest homebuilder buys last 232 lots at Estrella’s newest villageDeveloper to invest $70M on McCormick Ranch lakefront destination in Scottsdale