Shuttered Glendale golf course site sold to Denver homebuilder for cash

Apr 20, 2024, 5:45 AM | Updated: 10:50 am

An aerial view map shows where a homebuilder bought a former golf course site in Glendale at 55th a...

Nathan & Associates Inc. brokered the sale of land near 55th and Northern avenues in Glendale that once served as a golf course. (Nathan & Associates Inc.)

(Nathan & Associates Inc.)

Richmond American Homes of Arizona Inc. plopped down $28.64 million in cash to buy land that was once home to a golf course in Glendale.

Selling the land, near 55th and Northern avenues, according to Tempe-based real estate database Vizzda LLC, was Towne Development Inc., which paid $6.5 million to the city of Glendale in 2019 after the city shuttered the Glen Lakes Golf Course — despite a group of petitioners fighting to save the golf course.

Scottsdale-based brokerage Nathan & Associates Inc. had represented the city in that 36-acre transaction, and also represented the buyer and seller in this most recent transaction that closed April 11.

The brokers involved in the deal include Nate Nathan, Courtney Buck, Dan Baldwin and Ryan Duncan.

Richmond American, a subsidiary of Denver-based M.D.C. Holdings Inc. (NYSE: MDC), bought 173 finished lots priced at $165,523.12 per lot, according to Vizzda.

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

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Shuttered Glendale golf course site sold to Denver homebuilder for cash