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One of the nation’s largest homebuilders has secured 444 lots near the Taiwan Semiconductor Manufacturing Co.’s $265 billion development in north Phoenix.
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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.
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The lots, which are south of the Vistancia master-planned community, are within a new subdivision being called Harish Estates, which is approved for 606 lots.
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Read more of this story from the Business Journal.