ARIZONA NEWS
Home developer partners buy 836 acres of land in Surprise for $111.7M
PHOENIX — Three home developers closed on a purchase of 836 acres of land Friday in Surprise for $111.7 million.
The partners — Lennar Homes, Pulte Homes and Taylor Morrison Homes — teamed up to purchase the land within the Asante Planned Community located near 163rd Avenue and Pat Tillman Boulevard, according to a press release.
The location includes 752 acres of single-family residential land totaling up to around 2,750 lots, 56 acres of high-density residential land and 28 acres of commercial land.
Land Advisors Organization represented the seller, HE Capital Asante LLC, which has owned the property since 2009.
“The northwest Valley s one of the most active development areas in the Valley. This acquisition provides all three builders with the opportunity to continue their delivery of high-quality housing to the north Surprise market for the next 4 to 7 years,” Mike Schwab, principal and designated broker with Land Advisors Organization, said in the release.
“By joining forces, these builders will provide future residents of the community with a range of diverse new home options, further adding to the area’s attractiveness.”
