By Roland Murphy for Arizona Builder’s Exchange
A 1,086-acre section of land in Peoria’s Lake Pleasant Heights master planned community will see 2,800 new homes in the coming years, after Land Advisors Organization recently brokered the $35M sale.
The property is located adjacent north from the successful Vistancia Community. Robert Charles Lesser just named Vistancia as the 15th best-selling master planned community in the nation based on 2016 new home sales, according to Land Advisors Organization’s announcement of the deal.
Lake Pleasant Heights will be built out in three phases and will include residential, multi-family and commercial land uses. Other features include 220 acres of parks, hillside/open space and a future elementary school site.
Land Advisors Organization represented the seller – a joint venture between Oaktree Capital Management, Gibraltar Capital, and Sabal Financial Group in the transaction. The buyer was a joint venture between Avanti Properties Group and Voyager Investment Properties, LLC.
Voyager will complete the required entitlements, and Land Advisors Organization will handle marketing the property.
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