Located southeast of Ocotillo and Lindsay roads in Chandler, AZ is a 23.8 acre stretch of land that used to belong to the Pastorino Dairy Farm. The farm was one of the remaining four dairy farms still located in the East Valley. The property was recently sold to JEN Partners LLC, a private equity real estate fund based out of New York, for $2.3 million.
JEN Partners is the land bank for Maracay Homes, a Scottsdale-based home builder. The land will be sold to Maracay on a rolling option basis via separate agreements. Maracay plans to call the development Vanquero Ranch and the grand opening is scheduled for next spring.
Vanquero Ranch will house 74 single-family homes that range in size from 1,800 to 3,700 square feet. Pricing won't be determined until their kick-off event next year.
If you're considering buying a home, now is the time to do so! From resales to new builds, a specialist from The McKinley Group will help you successfully navigate any type of transaction. For more information on other builders in the area, contact us today!
Comments(0)