Scottsdale developer sells lots to homebuilders at $2.1B Pinal County project

Dec 27, 2023, 4:05 AM

Another big chunk of land in northern Pinal County has been sold to three homebuilders. (Photo by B...

Another big chunk of land in northern Pinal County has been sold to three homebuilders. (Photo by Brian Snider)

(Photo by Brian Snider)

El Dorado Holdings Inc. just closed on a major transaction, selling 461 lots to homebuilders at its massive $2.1B master-planned community in Pinal County, south of Phoenix.

The Scottsdale-based developer sold the finished lots within Bella Vista Farms in San Tan Valley for a total of $55.7 million.

Scottsdale’s Meritage Homes Corp. (NYSE: MTH) bought the largest chunk of lots on three parcels, while The New Home Co. and Atlanta-based Beazer Homes each bought a single parcel.

Nate Nathan, Courtney Buck, Ryan Duncan, and Dan Baldwin from Nathan & Associates represented the buyers and seller.

“Bella Vista lies directly in the path of the future growth of the southeast Valley,” said Nathan, president and designated broker for Nathan & Associates. “As Mesa builds out, the San Tan Valley has become a very important part of future growth. It will be serving housing for all the new employment popping up north and south of San Tan Valley.”

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

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Scottsdale developer sells lots to homebuilders at $2.1B Pinal County project