MARICOPA – A company formed by Everest Holdings in Scottsdale (Joe Blackbourn, principal) paid $680,000 ($10,000 per lot) to buy 68 finished lots at Bowlin and Porter roads in the Town of Maricopa. The seller was Lennar Communities Development Inc. of Tempe (Alan Jones, pres.). The cash transaction was brokered through Nate Nathan, Dave Mullard and Casey Christensen of Nathan & Associates Inc. of Scottsdale. Of the home sites, 46 average 4,950 sq. ft. (45 x 110) and 22 average 5,500 sq. ft. (50 x 110). The subdivision is within the Glennwilde community. Blackbourn says he will sell the lots to one or more builders. The Nathan & Associates agents have the marketing assignment. Everest Holdings has been an active as a buyer of lots in Arizona and other western states. Companies formed by Blackbourn have acquired 1,800 developed home sites in Arizona and Nevada. Blackbourn says his company has a $125 million land opportunity fund targeted for buying residential dirt in the Arizona, Nevada, Colorado and California markets. Everest Holdings is also interested in purchasing apartment and hotel properties. Find out more from Blackbourn at (480) 860-6500. Talk to Jones at (480) 345-0077. Reach Nathan, Mullard and Christensen at (480) 367-0700.
BREW – DECEMBER 18, 2009