One of the nation's largest homebuilders has secured 444 lots near the Taiwan Semiconductor Manufacturing Co.'s $265 billion development in north Phoenix.
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.
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.
Read more of this story from the Business Journal.
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