September 1, 2006 ~ Source: BrewAZ.com
MONTAGE HOLDINGS VENTURE SPENDING $317 MILLION FOR 9,100 ACRES ON WEST SIDE 

Maricopa County – A venture formed by Montage Holdings in Scottsdale (Garth Wieger, principal) and a subsidiary of Seattle-based Weyerhaeuser Co. (NYSE:WY) is working to acquire 9,100 acres in the Mobile area of Maricopa County. Sources say the venture will pay $317 million to purchase the land in a single transaction scheduled to close this month. The sellers were companies formed by Harry Elliott of Elliott Homes Inc. in Folsom, CA, and Sonoran Monument Holdings, a company including valley investors Bryan Morganstern, Bill Olsen, Dennis Barney, Ray Olsen and Gerry Ricke. The sale is being brokered by Nate Nathan and Dave Mullard of Nathan & Associates Inc. in Scottsdale, and Bryan Morganstern and Bill Olsen of Hogan & Associates Inc. in Scottsdale. The property, being annexed into Goodyear, is about eight miles west of the Town of Maricopa. The tract is bisected by State Route 238 and is bordered on the west by the Sonoran National Monument and on the east by the Maricopa County line. Elliott Homes assembled the land over the past two years. The Montage/Weyerhaeuser company is expected to complete the annexation, develop a land plan, take the acreage through the entitlement process and sell parcels to multiple home builders and developers. Land planning is being handled by Larson Voss & Associates in Scottsdale, and Design Workshop Inc. in Tempe. In November 2005, BREW reported Montage Holdings assembling almost 1,000 acres at the southeastern edge of Maricopa County in the Mobile area. That acreage will be sold to the Montage/Weyerhaeuser venture and planned and developed as part of the larger tract. As reported, Montage Holdings paid more than $36 million for the land in six transactions. The properties, which are not contiguous, are along both sides of State Route 238 and about eight miles west of John Wayne Parkway (Maricopa Road). The largest of the parcels is a 690-acre tract located at the eastern edge of Mobile along the north side of State Route 238. The Montage/Weyerhaeuser company intends to develop that parcel in the first phase of the planned community. Look for platted and engineered lots to be available in 12 to 24 months. Nathan and Mullard have the marketing assignment. Over the years, BREW has reported Wieger involved in numerous real estate deals in the Valley. The former Valley home builder has been focused on a variety of business deals in the past two years and is looking for additional real estate investment and development opportunities in the Phoenix area. The Mobile deal is the first venture for Weyerhaeuser and Montage. Weyerhaeuser Real Estate Co. in Seattle, the subsidiary of Weyerhaeuser Co., recently acquired Valley builder Maracay Homes Corp. in Scottsdale. Get more from Wieger at (480) 346-9605. Al Evenson of Elliott Homes in Tempe is at (480) 831-9200. Reach Nathan and Mullard at (480) 367-0700. Morganstern and Olsen are at (480) 967-1300. 


November 9, 2007 ~ Source: BrewAZ.com
STARWOOD LOOKING FOR RESIDENTIAL LAND IN THE VALLEY . . . BUYS 277 LOTS AT MAGMA RANCH 

Pinal County – Starwood Land Ventures of Bradenton, Fla. (John Peshkin, pres.) is expanding into the Phoenix area and is looking for residential land throughout the Valley. Starwood Land Ventures, an affiliate of Starwood Capital Group in Greenwich, Conn., has hired Tom Blake as west regional pres. Blake, formerly div. pres. at Taylor Woodrow/Arizona Inc. in Scottsdale, is focusing on Arizona as a primary market for a special fund dedicated to buying residential dirt. In its first deal in Arizona, a company formed by Starwood Land Ventures paid $6.724 million to acquire 277 finished lots within the Magma Ranch community at the northeast corner of Felix and Judd roads in Pinal County. Starwood Land Ventures paid $3.343 million to buy 143 of the home sites. The seller was a company formed by investor Nariman Afkhami of AREAD Inc. in Scottsdale. The deal was brokered by Howard Weinstein and Derek Harris of Weinstein & Harris in Scottsdale, and Bryan Morganstern and Blake McKee of Hogan & Associates Inc. in Scottsdale. Of those lots, 73 average 5,400 sq. ft. (45x120) and 70 average 6,875 sq. ft. (50x125). Starwood Land Ventures acquired the other 134 home sites at Magma Ranch from Woodside Homes of Arizona in Tempe (Gene Morrison, pres.). Weinstein and Harris brokered that $3.381 million sale. Starwood Land Ventures will eventually sell the lots to builders. Weinstein and Harris have the marketing assignment. The phone number at Starwood Land Ventures is (941) 907-3212. Contact Afkhami at (480) 998-5440. Morrison is at (480) 755-0801. Weinstein and Harris are at (480) 659-9590. Morganstern and McKee are at (480) 967-1300. 


April 14, 2006  - Volume XII, Number 14 ~ Source: BrewAZ.com
SCOTTSDALE OFFICE CONDO PROJECT SOLD IN 11 DEALS TOTALING $17+ MILLION 

Scottsdale – A 83,862-square-foot, shell office condominium project at the southeast corner of Bell Road and the Loop 101 in Scottsdale has been sold in 11 transactions totaling $17+ million ($203 per foot average). The eight-building development, called Bell 101 Executive Center, was developed by a venture formed by investors Eric Rinestone, Mike Wilson and Dick Lund, all of Scottsdale, and Dave Sellers of LGE Corp. in Phoenix. The seller was represented by Jeff Wentworth and Blake Hastings of Grubb & Ellis\BRE Commercial in Phoenix. Here is a summary of each transaction: Mark Bosworth & Associates LLC of Scottsdale paid $2.7148 million ($220 per foot) for a 12,340-square-foot building at 8841 E. Bell Road, and Mark Bosworth paid

$2.653 million ($215 per foot) to buy a 12,340-square-foot structure at 8817 E. Bell Road. Bosworth resold the 8841 E. Bell office (see related story P. 14). Bosworth is going to occupy a portion of the other building and will lease the balance. A company formed by investors James Keeley and Theresa Keeley of Scottsdale paid $859,919 ($202 per foot) to acquire 4,257 sq. ft. in the first floor of a structure at 8865 E. Bell Road. Nancy Rossman of Colliers Classic in Scottsdale represented the buyer. The Keeleys are reselling the property . . . asking price is $255 per foot. Rossman is marketing. Investors Moeez Ansari and Beatrice Ansari of Irvine, Calif. paid $740,335 ($174 per foot) to acquire 4,257 sq. ft. in the second floor of the building at 8865 E. Bell. No word on the Ansaris plans for the space. Investor Robert Bornholdt of Scottsdale paid just under $2.336 million ($205 per foot) to acquire a 11,395-square-foot building at 8889 E. Bell Road. Sources say the structure is available for sale or lease. Michael J. Sargent LLC of Phoenix paid just under $2.336 million ($205 per foot) to buy a 11,395-square-foot building at 8813 E. Bell Road. No word on Sargent’s plans for the property. A company formed by investors Eugene Baker and Christopher Ellis in Fountain Hills paid just over $1.575 million ($185 per foot) to buy a 8,515-square-foot structure at 8937 E. Bell Road. Chris Walton of Grubb & Ellis represented the buyer. Sources say Hallcraft Homes (owned by Baker and Ellis) will occupy the property. Crystal Holdings Ltd. in Phoenix (Vivian Dao, pres.) paid $962,164 ($196 per foot) to buy 4,909 sq. ft. of shell office space on the first floor of a building at 8961 E. Bell Road. Walton of Grubb & Ellis represented the buyer. Sources say Platinum Mortgage Advisors Ltd. in Phoenix (owned by Dao) will occupy the suite. A company formed by investors Michael Wade and Michael Nysather of Phoenix paid $546,000 ($195 per foot) to buy 2,800 sq. ft. of space on the second floor of the structure at 8961 E. Bell. Wade & Nysather, a Phoenix law firm, will occupy the space. BEM Development Inc. (Bryan Morganstern, principal) and Beach Corp. (Jeff Beach, principal), both of Scottsdale, paid $413,000 ($225 per foot) to acquire 1,836 sq. ft. on the second floor of the 8961 E. Bell building. Rod Beach of Grubb & Ellis represented the buyer. That space is available for lease or purchase. Rod Beach is marketing. Householder Investments LLC in Scottsdale (Scott Householder, Debra Davis, principals) paid just over $1.9 million ($194 per foot) to buy a 9,818-square-foot office at 8985 E. Bell Road. Steve Gerhard of CB Richard Ellis in Phoenix represented the buyer. Householder Investments intends to occupy the building. Over the years, BREW has reported Rinestone, Wilson, Lund and Sellers involved in numerous real estate developments and investments in the Phoenix area. Find out more from Rinestone and Wilson at (480) 874-2600. Reach Lund at (480) 505-9363. Sellers is at (602) 225-2744. Contact Wentworth and Hastings at (602) 954-9000.


April 7, 2006  - Volume XII, Number 13 ~ Source: BrewAZ.com
RICHMOND AMERICAN HAS TWO NEW SUBDIVISIONS ON TAP FOR WEST SIDE 

Surprise/Phoenix – Richmond American Homes of Arizona Inc. in Phoenix (Harry Lourimore, Todd Demarets, div. presidents) plans to build 281 residences in two subdivisions planned on the west side in Surprise and Phoenix. The builder paid just under $2.98 million to acquire a 22.44-acre parcel at the northwest corner of 115th Avenue and Bell Road in Surprise. The seller was a company formed by investor Ron McRae of The McRae Group of Cos. in Scottsdale. The transaction was negotiated through Bryan Morganstern of Hogan & Associates Inc. in Tempe. Bill Grogan of Richmond American says the company will build an “eight-pack” product on lots averaging around 2,923 sq. ft. (37x79). Homes to range from 1,564 sq. ft. to 1,849 sq. ft. Two- and three-bedroom units to be priced from the low $200,000's to the mid-$200,000's. Models scheduled to open first quarter 2007. Build out expected to take two years. The subdivision is being called Canyon Ridge West. In west Phoenix, Richmond American is building 96 homes on a 38.6-acre parcel located north of the northeast corner of 107th Avenue and Broadway Road. The builder paid $2.64 million to buy the property. The seller was Metropolitan Land Co. in Phoenix (Brian Burch, Bill Milne, principals). The lots will average 9,000 sq. ft. (75x120). Grogan says Richmond American will construct residences ranging from 1,830 sq. ft. to 4,119 sq. ft. Four- and five-bedroom units to be priced from around $250,000 to the $400,000's. Models scheduled to open around first quarter 2007. Build out expected to take about two years. The subdivision is being called Sterling at Lions Gate. Richmond American is a subsidiary of Denver-based MDC Corp. (NYSE:MDC). The parent firm provides financing. Get more from Grogan at (602) 522-4846. Talk to McRae at (480) 609-1200. Morganstern is at (480) 967-1300. Burch and Milne are at (602) 957-0604. 


October 21, 2005  - Volume XI, Number 41 ~ Source: BrewAZ.com
FOURSITE DEVELOPING 336-UNIT APARTMENT PROJECT IN AVONDALE 

Avondale – A company formed by Foursite Development LLC in Phoenix (Devan Wastchak, David Lu, Robert Kerwin, and Jason O’Clair, principals) plans to develop a 336-unit apartment project in Avondale. The 18.29-acre site is at the northwest corner of 111th Avenue and Van Buren Street. The company paid $2.3 million to buy the parcel from a company formed by The McRae Group of Cos. in Scottsdale (Ron McRae, principal). The sale was negotiated through Bryan Morganstern and Bill Olsen of Hogan & Associates Inc. in Tempe, Bob Hansen of Realty Executives Commercial in Sun City and Clem Titzck of Dan Schwartz Realty in Scottsdale. Eric Miller Architect of Albuquerque, N.M. is designing the project, being called The Retreat at Waterford Square. Plans show one-, two- and three-bedroom units ranging from 780 sq. ft. to 1,200 sq. ft. Construction scheduled to start in October. Opening is slated for summer 2006, with completion expected by summer 2006. MT Builders in Scottsdale to serve as contractor. Development cost (land and buildings) estimated at $27 million. Development financing is being provided through the Department of Housing and Urban Development (HUD). Land acquisition financing was provided by Johnson Bank in Phoenix. Foursite intends to hold the property for investment after completion of construction and lease-up. BREW has reported Foursite developing and selling several apartment projects in the Valley. The company is looking for additional multi-family sites all over the Phoenix area. In September, BREW reported Foursite planning to develop a 142-unit apartment project south of the southeast corner of Bell and Litchfield roads in Surprise. That community, being called The Retreat at West Point, is adjacent west of a 168-unit apartment complex Foursite previously developed called Village at West Point. Find out more from the principals of Foursite at (602) 266-5888. Talk to McRae at (480) 609-1200. Reach Morganstern and Olsen at (480) 967-1300. Talk to Hansen at (623) 933-4337. Call Titczk at (480) 948-2595. 


November 12, 2004  - Volume X, Number 44 ~ Source: BrewAZ.com
ENGLE HOMES TO DEVELOP 927-LOT COMMUNITY WITHIN CIRCLE CROSS RANCH IN PINAL COUNTY 

Pinal County – Engle Homes/Arizona Inc. in Phoenix (Carl Mulac, pres.) plans to build 927 residences within the Circle Cross Ranch community at the northwest corner of Combs and Vineyard roads in Pinal County. The builder paid just over $19 million to buy the preliminary platted lots. The seller was a company formed by El Dorado Holdings. Inc. in Phoenix (Mike Ingram, Monty Ortman, principals). The transaction was negotiated by Nate Nathan and Dave Mullard of Nathan & Associates Inc. in Scottsdale, and Bryan Morganstern and Bill Olsen of Hogan & Associates Inc. in Tempe. The lots will average 5,400 sq. ft. (45x120), 6,000 sq. ft. (50x120), 6,600 sq. ft. (55x120) and 7,800 sq. ft. (65x120). Barry Dluzen, director of land acquisitions at Engle, says the company will build homes ranging from 1,429 sq. ft. to 3,621 sq. ft. Three-, four- and five-bedroom units to be priced from $175,000 to $326,000. Models scheduled to open June 2006. Build out expected to take 53 months. Engle Homes/Arizona is a subsidiary of Technical Olympic USA in Hollywood, Fla. (NASDAQ:TOUS). The parent company provides financing. Get more from Dluzen at (480) 968-7700. Kelly House, pres. of El Dorado Holdings, is at (602) 955-2424. Reach Nathan and Mullard at (480) 367-0700. Call Morganstern and Olsen at (480) 967-1300. 


September 10, 2004  - Volume X, Number 35 ~ Source: BrewAZ.com
PK DEVELOPMENT BUYS 181 ACRES IN QUEEN CREEK . . . PLANS 490-LOT RESIDENTIAL COMMUNITY 

Queen Creek – A company formed by Len Pritchard of PK Development in Cave Creek paid $8.758 million to acquire 181 acres at the northwest corner of Crismon and Ocotillo roads in Queen Creek. The seller was Emperor Town Centre Development LLC in Gilbert (Johan de Keizer, pres.). The deal was negotiated through Ron Coleman, Ryan Duncan and Kris Thompson of Arizona Land Advisors in Scottsdale, and Bryan Morganstern, Blake McKee and Bill Olsen of Hogan & Associates Inc. in Tempe. Sources say Pritchard intends to obtain entitlement to develop 490 single-family home sites and will sell the platted and engineered lots to a builder. The home sites are expected to average 5,400 sq. ft. (45x120), 7,200 sq. ft. (60x120), 9,600 sq. ft. (80x120) and 12,000 sq. ft. (100x120). Sources say the Arizona Land Advisors agents are negotiating with a builder to buy the home sites. No further details on those discussions. Learn more from Pritchard at (480) 595-2160. Call de Keizer at (480) 924-8495. Reach the Arizona Land Advisors agents at (480) 483-8100. Contact the Hogan & Associates agents at (480) 967-1300.  


July 9, 2004  - Volume X, Number 26 ~ Source: BrewAZ.com
GREAT WESTERN TO BUILD 275-LOT COMMUNITY IN MESA 

Mesa – Great Western Homes in Mesa (Scott Smith, pres.) plans to build 275 residences at the southeast corner of Crismon Road and the Superstition Freeway in Mesa. The builder paid $3.3 million to acquire the platted and engineered lots. The seller was a limited partnership formed by Acacia Capital Funds in Phoenix. The deal was negotiated by Tracy Glass, Bill Olsen, Rich Stone, Ed Jankowski and Bryan Morganstern of Hogan & Associates Inc. in Tempe. The home sites average 2,560 sq. ft. (32x80) and 2,184 sq. ft. (42x52). The alley-loaded and courtyard style homes will range from 1,200 sq. ft. to 2,000 sq. ft. Pricing expected to range from $120,000 to $156,000. Models slated to open in April 2005. Over the years, BREW has reported Great Western Homes building subdivisions in the Valley. Find out more from Smith at (480) 396-9696. Mike Hare is the contact at Acacia . . . call him at (602) 262-8207. Reach the Hogan agents at (480) 967-1300. 


May 21, 2004  - Volume X, Number 20 ~ Source: BrewAZ.com
SCOTTSDALE INVESTOR PLANS 3,000-LOT COMMUNITY CALLED MAGMA RANCH 

Pinal County – A company formed by investor Nariman Afkhami in Scottsdale plans to develop a 3,000-lot residential community in Pinal County called Magma Ranch. Afkhami recently acquired 588 acres of the 908-acre parcel in a $9.417 million deal. The seller was a venture formed by Jack Londen of Londen Land Co. in Phoenix, and Rick Black of Antares Realty & Investments in Scottsdale. The sale was negotiated by Blake McKee and Bryan Morganstern of Hogan & Associates Inc. in Tempe. That property is located at the northeast corner of Cooper and Judd roads. Last year, Afkhami purchased 320 acres contiguous west to that tract. The Londen/Black venture sold Afkhami acreage that is platted and engineered for 2,000 lots. The home sites average 4,950 sq. ft. (45x110), 6,600 sq. ft. (55x120) and 8,125 sq. ft. (65x125). The adjoining 320 acres is planned for another 1,000 lots. Afkhami will sell platted and engineered home sites to home builders. McKee and Morganstern have the marketing assignment.

The Hogan & Associates agents have deals pending to sell roughly 1,000 lots that will be developed in the first two phases of the project. No further details on those plans. One year ago, BREW reported Londen and Black paying $5.2 million to acquire the 588-acre parcel in Pinal County. Afkhami, Londen and Black are all looking for additional real estate investment opportunities in the Phoenix area. Find out more from Afkhami at (480) 998-5440. Talk to Londen by calling (602) 957-1650. Reach Black at (480) 607-3700. Contact McKee and Morganstern at (480) 967-1300.  

September 19, 2003  - Volume IX, Number 37 ~ Source: BrewAZ.com
RICHMOND AMERICAN DEVELOPING 82-LOT SUBDIVISION IN PINAL COUNTY 

Pinal County – Richmond American Homes in Phoenix (Jim Kenny, Lou Smith, div. presidents) plans to construct 82 residences near the southwest corner of Bella Vista and Hunt Highway in Pinal County. The builder is paying $3.075 million for the developed lots, located within the Johnson Ranch community. The seller is a company formed by the Curtis Cos. in Scottsdale (Scott Curtis, Craig Curtis, principals). The deal was brokered through Ed Jankowski, Ryan Semro and Bryan Morganstern of Hogan & Associates Inc. in Tempe. The home sites average 9,200 sq. ft. (80x115). Harry Lourimore, v.p. of land acquisitions for Richmond American in Phoenix, says the company will construct homes ranging from 1,835 sq. ft. to 4,120 sq. ft. Three-, four-, five- and six-bedroom units to be priced from $155,000 to $220,000. Models set to open in November. Build out expected to take 18 months. Subdivision is being called the Estates at Johnson Ranch. Richmond American is a subsidiary of Denver-based MDC Corp. (NYSE:MDC). The parent firm provides financing. Get more from Lourimore at (602) 956-4100. Phone number at Curtis Cos. is (480) 998-1999. Reach the Hogan agents at (480) 967-1300.


August 15, 2003  - Volume IX, Number 32 ~ Source: BrewAZ.com
PEDERSON GROUP DEVELOPING COMMUNITY SHOPPING CENTER IN SOUTH VALLEY 

Phoenix – The Pederson Group in Phoenix (Jim Pederson, pres.) plans to develop a 335,000-square-foot community shopping center at the northwest corner of 24th Street and Baseline Road in Phoenix. The center, being called Legacy Village, will be anchored by a Target Store and a Fry’s Food & Drug Store. Those two retailers have acquired parcels within the 38-acre site and will develop their own buildings. Companies affiliated with Pederson Group assembled 31.2 acres of the land in two deals totaling just over $2.5 million. A limited partnership managed by Lawrie Porter of Investors Recovery Group LLC in Phoenix was the seller of 15 acres for $816,316. Chris Gerow of NAI Horizon in Phoenix brokered that sale. And Pederson Group paid just under $1.69 million to buy roughly 16 acres from a company formed by investor Johan de Keizer of Gilbert. That sale was negotiated through Bryan Morganstern of Hogan & Associates Inc. in Tempe and Gerow. An affiliate of Fry’s paid $2.25 million to acquire 6.46 acres from the partnership managed by Porter. Records show Target Corp. in Hayward, Calif. paid $100 (one hundred dollars) to buy 10.85 acres from Pederson Group. Target will build a 124,000-square-foot store and Fry’s will develop a 64,000-square-foot grocery. Pederson Group will construct 118,782 sq. ft. of retail space on the land it owns. Construction scheduled to start later this year, with opening slated for October 2004. Butler Design Group in Phoenix is the architect. Contractor still to be selected. Development cost (land and 118,782 sq. ft. of buildings) estimated at $16 million. Bank of America in Phoenix is providing construction financing. As part of a development agreement, the City of Phoenix will reimburse Pederson Group up to $1.5 million over several years. Gerow and Shelby Tworek of NAI Horizon have the leasing assignment. Ross Dress For Less will occupy 30,000 sq. ft. and Ace Hardware is leasing 20,000 sq. ft. Sources say Applebee’s and International House of Pancakes (IHOP) are buying pads and Bank of America and Jack-in-the-Box have leased pads and will develop their own buildings. Other tenants expected to lease space in the project include Famous Footwear, Payless Shoes, Panda Express and Subway. Over the years, BREW has reported Pederson Group developing numerous retail projects in the Phoenix area. Jeff Manelis is the contact at Pederson Group . . . reach him at (602) 265-2888. Talk to Gerow and Tworek at (602) 955-4000. Call Morganstern at (480) 967-1300. 


April 18, 2003  - Volume IX, Number 15 ~ Source: BrewAZ.com
SIVAGE-THOMAS CLOSES ON SECOND PHASE LAND WITHIN EMPEROR ESTATES AT QUEEN CREEK 

Queen Creek – Sivage-Thomas of Arizona Inc. in Fountain Hills (Mike Nuessle, pres.) paid just over $2.6 million to purchase 236 platted and engineered lots within the Emperor Estates community at the northeast corner of Sossaman and Queen Creek roads in Queen Creek. The seller was Emperor Estates Development Inc. in Mesa (Johan de Keizer, pres.). The deal was negotiated through Bryan Morganstern, Blake McKee and Bill Olsen of Hogan & Associates Inc. in Tempe. Of the home sites, 172 average 6,600 sq. ft. (60x110) and 64 average 8,800 sq. ft. (80x110). On the same day of that acquisition, Sivage-Thomas resold 150 of the smaller lots to KB Home Phoenix Inc. in Phoenix (Steve Davis, division pres.). KB paid just under $5.14 million to buy those developed home sites. That sale was also brokered by the Hogan & Associates agents (see story P. 8). In March 2002, BREW reported Sivage-Thomas buying a 70+ acre parcel to develop 243 homes in the first phase of the 865-lot Emperor Estates community. The company is constructing 1,400- to 2,900-square-foot residences. Three-, four- and five-bedroom units are priced from the high $120,000's to the high $190,000's. Project being called Remington Heights at Emperor Estates. Sivage-Thomas plans to sell the remaining 86 homes sites acquired in phase two. The Hogan & Associates agents have the marketing assignment. Nuessle says preliminary plan is to develop another 200 homes in the third phase and sell another 175- to 200 developed lots in the fourth and final phase. Sivage-Thomas has an option to acquire the remainder of the land from Emperor Estates over the next three years. Financing coming from Bank One Arizona in Phoenix. Find out more from Nuessle at (480) 837-8272. Reach de Keizer by calling (480) 924-8495. Contact the Hogan & Associates agents at (480) 967-1300.  


April 18, 2003  - Volume IX, Number 15 ~ Source: BrewAZ.com
KB CONSTRUCTING 367 RESIDENCES IN TWO NEW SUBDIVISIONS 

Avondale/Queen Creek – KB Home Phoenix Inc. in Phoenix (Steve Davis, division pres.) plans to construct a combined 367 residences in subdivisions targeted for Avondale and Queen Creek. The builder paid $1.767 million to acquire 217 platted and engineered lots at the northwest corner of 111th Avenue and Van Buren Street in Avondale. The seller was a company formed by Ron McRae of McRae Group of Cos. in Scottsdale. The sale was brokered by Rich Stone, Bill Olsen and Bryan Morganstern of Hogan & Associates Inc. in Tempe. The home sites average 3,360 sq. ft. (42x80). Jim Wright of KB in Phoenix says the company will build residences ranging from 1,680 sq. ft. to 2,204 sq. ft. Three- and four-bedroom units to be priced from around the high $120,000's to the low $140,000's. Models scheduled to open early fourth quarter. Build out expected to take just over two years. Within the Emperor Estates community in Queen Creek, KB is building 150 homes (see related story P. 7). KB paid just over $5.137 million to acquire the developed lots, located at the northeast corner of Sossaman and Queen Creek roads. The seller was Sivage-Thomas of Arizona Inc. in Fountain Hills (Mike Nuessle, pres.). The sale was brokered by Morganstern, Olsen and Blake McKee of Hogan & Associates. The home sites average 6,600 sq. ft. (60x110). KB will construct 1,850- to 3,300-square-foot residences. Models slated to open early fourth quarter. Build out to take about two years. Three-, four- and five-bedroom units to be priced from the mid-$150,000's to the mid-$190,000's. KB Home Phoenix is a division of Kaufman and Broad Home Corp. Inc. in Los Angeles (NYSE:KBH). The parent firm provides financing. Get more from Wright at (602) 306-1000. Call McRae at (480) 609-1200. Talk to Nuessle at (480) 837-8272. Contact Stone at (480) 967-1300. 


July 12, 2002  - Volume VIII, Number 27 ~ Source: BrewAZ.com
LAS VEGAS HOME BUILDER ENTERING VALLEY MARKET . . . PLANNING NEW SUBDIVISIONS 

Phoenix – Principals of Southwest Homes in Las Vegas (Todd Slusher, Roland Sturm, partners) are expanding operations into the Phoenix area with plans to be building 350 to 450 homes per year in the Valley. The company is now constructing about 500 homes in the Las Vegas area each year, and has operations in California, Oregon, New Mexico and Utah. Slusher says the company likely will build in Arizona under the name of Hamilton Homes. He adds that the company also is interested in expanding into Tucson. Initially, Slusher says the company has a property under contract in Queen Creek to build 300 residences. That land is part of an 865-lot community called Emperor Estates. Slusher’s company has agreed to buy the lots in an option deal with the developer of the project, Sivage-Thomas of Arizona Inc. in Fountain Hills (Mike Nuessle, pres.). The property is at the northeast corner of Sossaman and Queen Creek roads in Queen Creek. The first phase of the land purchase is set to close year-end. No word on price. The sale is being brokered through Bryan Morganstern, Blake McKee and Bill Olsen of Hogan & Associates Inc. in Tempe. And Slusher says the company is assembling a site for 170 homes at Vineyard and Williams in Gilbert. No further details on that deal. Slusher wants to have five or six subdivisions open in the Valley within the next year. Most of those projects are expected to be in the southeast Valley. Typically, Slusher says the company develops subdivisions and communities of at least 150 lots. Those will be entry level and first and second move-up residences priced from around $125,000 to $300,000. Get more from Slusher and Sturm at (702) 597-3233. Nuessle is at (480) 837-8272. Call the Hogan agents at (480) 967-1300. 


June 21, 2002  - Volume VIII, Number 24 ~ Source: BrewAZ.com
STANDARD PACIFIC & CONTINENTAL BUILDING 1,058 HOMES IN PHASE ONE OF CIRCLE CROSS RANCH 

Pinal County – Standard Pacific of Arizona Inc. in Scottsdale and Continental Homes Inc. in Scottsdale plan to construct a combined 1,058 residences in the first phase of the Circle Cross Ranch master planned community located east of Queen Creek in Pinal County. The 1,080-acre community, targeted for 3,500 homes, is being developed by El Dorado Holdings Inc. in Phoenix (Mike Ingram, Monty Ortman, principals). The home sites acquired by Standard Pacific and Continental are located south of the southwest corner of Vineyard and Combs roads. Standard Pacific paid $12.866 million to acquire 560 platted and engineered

lots, and Continental paid $11.52 million to purchase 560 platted and engineered home sites. A company formed by El Dorado Holdings was the seller in both deals. The sales were negotiated through Bryan Morganstern, Bill Olsen and Justin Smutko of Hogan & Associates Inc. in Tempe. Of the lots acquired by Standard Pacific, 272 average 4,950 sq. ft. (45x110), 163 average 6,000 sq. ft. (50x120) and 125 average 7,200 sq. ft. (60x120). Carol Grumley, v.p. of land acquisitions at Standard Pacific, says the company intends to build homes ranging from 1,431 sq. ft. to 2,691 sq. ft. Two-, three- and four-bedroom units to be priced from $110,000 to $175,000. Models scheduled to open fourth quarter 2003. Build out expected to take 3 ½ years. Standard Pacific of Arizona is a subsidiary of Standard Pacific Corp. in Costa Mesa, Calif. (NYSE:SPF). Financing to come from the parent firm.

Of the home sites acquired by Continental, 211 average 4,950 sq. ft. (45x110), 167 average 6,000 sq. ft. (50x120) and 120 average 7,200 sq. ft. (60x120). No word on Continental’s plans at Circle Cross Ranch. Continental Homes, a division of D.R. Horton Inc. in Arlington, Tex. (NYSE:DHI), gets its financing from the parent company. El Dorado Holdings has 2,400+ lots and 75 acres of commercial land yet to sell within Circle Cross Ranch. Get more from Grumley at (480) 627-7500. Brett Hopper of Continental Homes is at (480) 483-0006. Call Ingram and Ortman at (602) 955-2424. The Hogan & Associates agents are at (480) 967-1300.


May 31, 2002  - Volume VIII, Number 21 ~ Source: BrewAZ.com
BEAZER BUILDING 221 HOMES IN EAST SIDE AND WEST SIDE SUBDIVISIONS 

Goodyear/Gilbert – Beazer Homes Holding Corp. in Tempe (Joseph Thompson, pres.) is building a combined 221 residences in subdivisions planned in Goodyear and Gilbert. Within the Cottonflower Ranch community at the southwest corner of Yuma Road and Cotton Lane in Goodyear, Beazer is constructing 155 homes. The builder paid just under $3.1 million to acquire the platted, engineered and graded lots. The seller was a company formed by The Roston Co. in Carlsbad, Calif. (Mike Roston, pres.). The sale was negotiated by Nate Nathan and Joe Colucci of Nathan & Associates Inc. in Scottsdale. The lots average 5,500 sq. ft. (50x110). Myron Spencer of Beazer says the company intends to construct 1,244- to 1,967-square-foot homes. Three- and four- bedroom units are priced from $105,000 to $132,000. Beazer is using existing models within its Estrella Vista subdivision located two miles to the east. Build out expected to take 18 months. Beazer is constructing 66 homes within the Coronado Ranch community near the northeast corner of Higley and Queen Creek roads in Gilbert. Beazer paid just over $2.9 million to buy the developed home sites from a company formed by Tom Brown of Regal Homes Inc. in Phoenix. The lots average 8,800 sq. ft. (80x110). On the same day of that sale, records show Brown paid just over $2.8 million to purchase the home sites from a company formed by investors Ron Cooper and Howard Sher of Cooper & Sher Development in Los Angeles. That sale was brokered through Joe Hogan and Bryan Morganstern of Hogan & Associates Inc. in Tempe. Spencer says Beazer will build homes ranging from 1,916 sq. ft. to 3,801 sq. ft. Those three-, four- and five-bedroom units to be priced from $164,000 to $219,000. Beazer will use existing models from another project it already has underway at Coronado Ranch. Build out of both subdivisions to take two years. Beazer Homes in Tempe is a subsidiary of Beazer Homes USA in Atlanta, Ga. (NYSE:BZH). Financing coming from the parent. Regal had started two subdivisions within Coronado Ranch and held an option to buy the lots from Cooper. No word on why Brown decided to pull the plug on the subdivisions and sell the home sites. Regal also sold 71 lots within Coronado Ranch to Providence Development Inc. in Mesa (see following story). Find out more from Spencer at (480) 967-8655. Talk to Roston at (760) 720-4600. Catch Brown at (602) 944-7510. Reach Cooper at (310) 860-9459. Contact Sher at (310) 566-7004. Call Nathan and Colucci at (480) 367-0700. Hogan and Morganstern are at (480) 967-1300. 


May 31, 2002  - Volume VIII, Number 21 ~ Source: BrewAZ.com
PROVIDENCE HOMES EXPANDING CORONADO RANCH IN GILBERT 

Gilbert – Providence Homes in Mesa (John Poulsen, pres.) plans to build another 71 residences within the Coronado Ranch community at the northeast corner of Queen Creek and Higley roads in Gilbert. Providence paid just under $2.93 million to buy the developed lots in two transactions. The seller in both deals were companies formed by Tom Brown of Regal Homes Inc. in Phoenix (see previous story). The sales were negotiated by Joe Hogan, Bill Olsen and Bryan Morganstern of Hogan & Associates Inc. in Tempe. On the same day of those deals, records show Brown paid just over $2.2 million to acquire 54 of the home sites from a company formed by investors Ron Cooper and Howard Sher of Cooper & Sher Development in Los Angeles. That deal was brokered by Hogan and Morganstern of Hogan & Associates. The lots average 7,700 sq. ft. (70x110). Brad Reed of Providence says the company is building homes ranging from 1,300 sq. ft. to 3,000 sq. ft. Three-, four- and five-bedroom units are priced from $129,000 to $188,000. Providence to use existing models from a 132-unit subdivision it is just completing at Coronado Ranch. Build out for Providence at Coronado Ranch expected to take 8 to 10 months. Financing coming from within. Get more from Reed and Poulsen at (480) 649-0543. Call Brown at (602) 944-7510. Talk to Cooper at (310) 860-9459. Contact Sher at (310) 566-7004. Reach Hogan, Olsen and Morganstern at (480) 967-1300. 


March 22, 2002  - Volume VIII, Number 11 ~ Source: BrewAZ.com
SIVAGE-THOMAS BUYS FIRST PHASE OF 865-LOT COMMUNITY PLANNED IN QUEEN CREEK 

Queen Creek – Sivage-Thomas of Arizona Inc. in Fountain Hills (Mike Nuessle, pres.) plans to build 243 homes in phase one of an 865-lot residential community targeted for the northeast corner of Sossaman and Queen Creek roads in Queen Creek. The builder paid just under $2.69 million to purchase 243 preliminary platted lots on 70+ acres of the 272-acre site. The seller was Emperor Estates Development Inc. in Mesa (Johan de Keizer, pres.). The deal was negotiated through Bryan Morganstern, Blake McKee and Bill Olsen of Hogan & Associates Inc. in Tempe. Sivage-Thomas has an option to acquire the remainder of the land from Emperor Estates over the next four years. No word on purchase price for the option ground. Nuessle says phase one lots to average 6,600 sq. ft. (60x110) and 8,800 sq. ft. (80x110). Sivage-Thomas to construct 1,400- to 2,900-square-foot homes. Three-, four- and five-bedroom units to be priced from the high $120,000's to the high $190,000's. Models scheduled to open by fourth quarter. Project being called Remington Heights at Emperor Estates. Financing coming from Bank One Arizona in Phoenix. Sivage-Thomas plans to sell 235 developed lots in the second phase of the community. The Hogan & Associates agents have the marketing assignment. The 60-foot-wide lots are priced at $34,500 per home site and the 80-foot-wide lots are priced at $42,500 per home site. Nuessle says preliminary plan is to develop another 200 homes in the third phase and sell another 175- to 200 developed lots in the fourth and final phase. Get more from Nuessle at (480) 837-8272. Call de Keizer at (480) 924-8495. Reach the Hogan & Associates agents at (480) 967-1300. 


March 22, 2002  - Volume VIII, Number 11 ~ Source: BrewAZ.com
TREND HOMES TO BUILD 700+ RESIDENCES NEAR 24TH STREET AND SOUTHERN AVENUE 

Phoenix – A company formed by Trend Homes in Chandler (Reed Porter, pres.) plans to build 700+ residences on a roughly 110-acre parcel near the northwest corner of 24th Street and Southern Avenue in Phoenix. The City of Phoenix is in the process of assembling the property, and will eventually sell the land to Trend. Trend is expected to pay Phoenix around $5 million for the property in a deal scheduled to close early next year. Phoenix has completed the purchase of around 33 acres of the site from five sellers. Those acquisitions, totaling just under a combined $1.875 million, were brokered by Bryan Morganstern, Bill Olsen and Justin Smutko of Hogan & Associates Inc. in Tempe. Phoenix is working to acquire the remainder of the acreage from five different selling groups. The City has reached deals with two of the sellers, and is in the process of taking title to the other three properties through condemnation proceedings. Trend was awarded the opportunity to develop the land through a request for proposal (RFP) issued by the City last year. The builder is looking for approval to develop a mixture of single-family and multi-family residences. No further details available on product or pricing. Over the past few years, BREW has reported Trend among the more active home builders in the Valley. Earlier this month, BREW reported Trend expanding its 700-unit Arlington Estates community in the Laveen area of Maricopa County by adding 160 lots. That project is located just north of the northeast corner of 43rd Avenue and Baseline Road. Last year, BREW reported Trend expanding its operations to develop condominium projects in the Phoenix area. Get more from Porter at (480) 821-8000. Kate Krietor is the contact with the City . . . reach her by calling (602) 256-3302. Talk to the Hogan & Associates agents at (480) 967-1300. 


February 22, 2002  - Volume VIII, Number 7 ~ Source: BrewAZ.com
RICHMOND AMERICAN BUILDING 160 HOMES IN TWO SUBDIVISIONS 

Avondale/Gilbert – Richmond American Homes in Phoenix (Ron French, division pres.) is building a combined 160 homes in subdivisions planned in Avondale and Gilbert. The company paid just under $3.1 million to acquire 110 platted and engineered lots at the northeast corner of 11th Avenue and Lower Buckeye Road in Avondale. The seller was Elliott Homes Inc. in Tempe.

The home sites average 6,600 sq. ft. (60x110). Jim Kenny of Richmond American says the company intends to construct 1,717- to 2,780-square-foot homes. Three-, four- and five-bedroom units to be priced from $138,000 to $173,000. Models scheduled to open March 2002. Build out to take 18 months. Subdivision being called Mission Ridge at Sanctuary. Richmond American is building 50 homes within the San Tan Ranch master-planned community in Gilbert. That project is at the southeast corner of Higley and Pecos roads. The builder paid $2.2 million to buy the developed lots. The seller was a company formed by Scottsdale-based investor Larry Miller. The sale was negotiated by Grant Helgeson of Westland Properties in Scottsdale, Don McCaul of Prime Real Estate Corp. in Scottsdale and James Hotis and Bryan Morganstern of Hogan & Associates Inc. in Tempe. The lots average 9,600 sq. ft. (80x120). Richmond American to build homes ranging from 1,835 sq. ft. to 4,120 sq. ft. Three-, four-, five- and six-bedroom units to be priced from $166,000 to $224,000. Models slated to open in August. Richmond American is a subsidiary of Denver-based MDC Corp. (NYSE:MDC). The parent firm provides financing. The builder wants to buy more residential land throughout the Phoenix area . . . looking for sites ranging from 20 to 160 acres. Over the past few years, Richmond American has been among the most active builders in the Valley. In January, BREW reported the company planning to construct 210 residences at the northeast corner of 61st Avenue and Alameda Road in Phoenix. Find out more from Kenny at

(602) 956-4100. Talk to Miller at (480) 945-9292. Reach Helgeson at (480) 443-8570. McCaul is at (602) 818-1930. Call Hotis and Morganstern at (480) 967-1300.


November 23, 2001  - Volume VII, Number 46 ~ Source: BrewAZ.com
TREND HOMES BUYS GILBERT PARCEL FOR 139-UNIT CONDOMINIUM PROJECT 

Gilbert – Trend Homes in Chandler (Reed Porter, pres.) plans to build 139 condominium units on an 11.43-acre parcel located at the southwest corner of Gilbert and Juniper roads in Gilbert. Trend Homes paid $1.325 million for the land. The seller was DeMuro Enterprises Inc. in Scottsdale (Gene DeMuro, principal). The sale was brokered by Bryan Morganstern, Bill Olsen and Justin Smutko of Hogan & Associates Inc. in Phoenix. Porter says the company intends to construct two- and three-bedroom units ranging from 1,000 sq. ft. to 1,500 sq. ft. Pricing yet to be determined. Models slated to open fourth quarter 2002. Build out expected to take two years. No word on financing. Over the years, BREW has reported Trend building a number of homes in the Phoenix area. In September, BREW reported Trend expanding its single-family home building business to develop condominiums in the Valley. The company is constructing 162 condominium units within the Augusta Ranch community in Mesa. Last month, BREW reported Trend planning to build 74 homes within the Pine Lake Estates community in Chandler. Get more from Porter at (480) 821-8000. Talk to DeMuro at (480) 998-0575. Reach the Hogan agents at (480) 967-1300. 


October 19, 2001  - Volume VII, Number 41 ~ Source: BrewAZ.com
TREND HOMES TO DEVELOP 74-LOT SUBDIVISION AT PINE LAKE ESTATES PROJECT IN CHANDLER 

Chandler – Trend Homes in Chandler (Reed Porter, pres.) plans to build 74 homes within the Pine Lake Estates community in Chandler. That project is located one-quarter-mile east of the northeast corner of Arizona Avenue and Chandler Heights Road.

The home sites average 11,900 sq. ft. (85x140). Trend is buying developed lots through a rolling option agreement with Stardust Development Inc. in Scottsdale (Jerry Bisgrove, principal). Trend will pay $100,000 per developed home site. Stardust paid just over $3.774 million to acquire the platted, engineered and graded lots from Schuler Homes of Arizona in Tempe (Rob Cross, pres.). The deal was brokered by Bill Olsen and Bryan Morganstern of Hogan & Associates Inc. in Tempe, and Scott Ward of Ward Real Estate Development in Chandler. Porter says Trend intends to build 3,000- to 5,000-square-foot homes. Pricing yet to be determined on the three-, four- and five-bedroom units. Models scheduled to open next spring. Build out expected to take two years. In April, BREW reported Schuler paying just under $7.06 million to purchase 217 platted and engineered lots within Pine Lake Estates. The seller was Kaleidoscope Marketing Corp. in Mesa. Kaleidoscope had originally agreed to sell the lots to Porter of Trend Homes. As it turned out, Porter sold his right to purchase the Chandler home sites to Schuler for roughly $800,000. On the same day of the purchase from Kaleidoscope, Schuler resold 64 of the Pine Lake Estates lots to Shea Homes in Scottsdale. Shea paid $3.84 million to buy the platted and engineered lots from Schuler. Schuler is building on the remaining 79 home sites within the planned community. Last month, BREW reported Trend expanding its single-family home building business to develop condominiums in the Valley. Initially, the company plans to construct 162 condominium units within the Augusta Ranch community in Mesa. Get more from Porter at (480) 821-8000. Talk to Cross at (480) 377-1000. Chris Heeter is contact at Stardust . . . (480) 607-5800. Call Morganstern at (480) 929-0444. Reach Olsen at (480) 354-5500. Contact Ward at (480) 899-4330.

July 13, 2001  - Volume VII, Number 27 ~ Source: BrewAZ.com
MAGEE HOMES HAS 58-LOT PROJECT NEAR ARIZONA AVENUE & WARNER ROAD IN CHANDLER 

Chandler – Magee Homes in Chandler (Brian Magee, Charlie Dunlap, principals) plans to construct 47 residences near the northwest corner of McQueen and Warner roads in Chandler. The builder paid $952,000 to buy the preliminary platted lots. The seller was a company formed by investor Steve Bunch in Scottsdale. The sale was negotiated through Ray Chiang of Trinity Real Estate in Phoenix, and Bryan Morganstern of Hogan & Associates in Tempe. The home sites average 4,200 sq. ft. Magee says

the company intends to build 1,100- to 2,100-square-foot homes. Three- and four-bedroom units to be priced from $130,000 to $170,000. Models to open second quarter 2002. Build out expected to take one year. Financing to come from within. Magee says the company is working to buy land in Chandler for two more subdivisions. No further details on those deals. In December, BREW reported Magee planning to construct 58 residences just west of the northwest corner of Arizona Avenue and Warner Road in Chandler. Get more from Magee at (480) 940-0220. Talk to Bunch at (480) 515-5750. Reach Chiang at (480) 759-3120. Call Morganstern at (480) 929-0444.

April 13, 2001  - Volume VII, Number 14 ~ Source: BrewAZ.com
SCHULER TO DEVELOP 153-LOT SUBDIVISION WITHIN PINE LAKE ESTATES PROJECT IN CHANDLER 

Chandler – Schuler Homes of Arizona in Tempe (Rob Cross, pres.) plans to build 153 residences within a new community in Chandler being called Pine Lake Estates. That project is located about one-quarter-mile east of the northeast corner of Arizona Avenue and Chandler Heights Road. The builder paid just under $7.06 million to acquire 217 platted and engineered lots within the planned community. The seller was Kaleidoscope Marketing Corp. in Mesa (Yee Koo Chen, principal). The deal was negotiated through Bryan Morganstern and Bill Olsen of Hogan & Associates Inc. in Tempe. Kaleidoscope had originally agreed to sell the lots to a company formed by Reed Porter of Trend Homes in Chandler. As it turned out, Porter decided to sell his right to purchase the Chandler home sites to Schuler for roughly $800,000. On the same day of the closing between Schuler and Kaleidoscope, Schuler resold 64 of the Chandler lots to Shea Homes in Scottsdale (see following story). Schuler is building on lots averaging 11,900 sq. ft. (85x140). Residences to range from 2,567 sq. ft. to 3,550 sq. ft. Four- and five-bedroom units to be priced from $260,000 to $300,000. Models slated to open in November. Build out expected to require two years. Schuler Homes in Tempe is a subsidiary of Schuler Homes Inc. in Honolulu, Hi. (NASDAQ:SHLR, Jim Schuler, pres.). Parent firm provides financing. Cross says Schuler now has three active subdivisions in the Phoenix area, but that number will increase to eight by November. Last October, BREW reported Schuler planning to construct 114 residences within the Crismon Creek community located at the northeast corner of Baseline and Crismon roads in Mesa. Find out more from Cross at (480) 377-1000. Gary Davis is contact at Kaleidoscope . . . (480) 963-4541. Talk to Porter at (480) 821-8000. Call Morganstern at (480) 929-0444. Olsen is at (480) 354-5500.


March 9, 2001  - Volume VII, Number 9 ~ Source: BrewAZ.com
CREATIVE CLASSICS RAMPING UP VALLEY HOME BUILDING OPERATIONS 

Avondale – The Creative Classics Co. in Tempe (Peter Workum, pres.) plans to build 147 residences at the northeast corner of Litchfield and Lower Buckeye roads in Avondale. The builder paid just under $1.56 million to buy the platted and engineered

lots. The seller was a company formed by investor Virgil Doerfler in Prescott. The sale was negotiated by Bryan Morganstern and Justin Smutko of Hogan & Associates Inc. in Tempe. The home sites average 6,050 sq. ft. (55x110). Lori Luke of Creative Classics says the company intends to construct homes ranging from 1,225 sq. ft. to 1,775 sq. ft. Two-, three- and four-bedroom units to be priced from $104,000 to $132,000. Models slated to open in September 2001. Build out expected to require 2 ½ years.

Creative Classics is a subsidiary of Proprietary Energy (PPI) in Calgary, Alberta, Canada. Financing to come from the parent firm. The Avondale subdivision will be the first for Creative Classics in the Phoenix area. The builder is developing its first Arizona housing project in Coolidge. Luke says the company is looking for additional residential development opportunities in the state. Find out more from Luke at (480) 966-8555. Reach Doerfler at (602) 421-1160. Talk to Morganstern and Smutko at (480) 929-0444.


February 23, 2001  - Volume VII, Number 7 ~ Source: BrewAZ.com
MESA INVESTORS SPEND $3 MILLION FOR 41 ACRES NEAR WILLIAMS GATEWAY AIRPORT 

Mesa – Broadland Properties in Mesa (Jack Hudson, Ed Pozon, principals) paid just under $3 million to acquire 41 acres of vacant land at the southeast corner of Power and Elliot roads in Mesa. The seller was a company formed by investors John O’Hara and Jim Jones in Mesa. The sale was negotiated though Bryan Morganstern and Bill Olsen of Hogan & Associates Inc. in Tempe. The property, two miles north of the Williams Gateway Airport, is zoned for commercial and industrial uses. No word on Broadland’s plans for the acreage. The area in the southeast Valley including the Broadland tract has become a hotspot for real estate investors. In January, BREW reported a 5,000-acre tract northeast of Williams Airport being evaluated for possible development as a new master-planned community. That property, known as the General Motors Proving Grounds, is owned by General Motors Corp. in Detroit, Mich. The tract generally is bounded on the east by the Signal Butte Road alignment, on the west by Ellsworth Road, on the north by Elliot Road and on the south by the alignment of Pecos Road. General Motors has been having preliminary discussions with potential partners to eventually develop the land. Also in January, BREW reported a company formed by Larry Yount and Bill Ring of LKY Development in Phoenix paying $8.425 million to acquire 240 acres at the southwest corner of Mountain and Elliot roads in Maricopa County. That acreage is immediately east of the General Motors Proving Grounds. Yount and Ring are holding the land for investment and eventually plan to resell the property. Find out more from Hudson and Pozon at (480) 832-3009. Talk to O’Hara and Jones at (480) 981-9614. Reach Morganstern and Olsen by calling (480) 929-0444. 


February 23, 2001  - Volume VII, Number 7 ~ Source: BrewAZ.com
PROVIDENCE HOMES BUILDING 132 RESIDENCES WITHIN CORONADO RANCH IN GILBERT 

Gilbert – Providence Homes in Mesa (John Poulsen, pres.) plans to build 132 residences within the Coronado Ranch master-planned community at the northeast corner of Queen Creek and Higley roads in Gilbert. The builder paid just under $4.82 million to buy the developed lots from a company formed by investors Ron Cooper and Howard Sher of Cooper & Sher Development in Los Angeles. The sale was negotiated by James Hotis, Bill Olsen and Bryan Morganstern of Hogan & Associates Inc. in Tempe. The home sites average 8,800 sq. ft. (80x110). David Pew, v.p. at Providence, says the company intends to construct 1,100- to 3,000-square-foot homes. Three-, four- and five-bedroom units tentatively to be priced from $120,000 to $180,000. Initially, Providence will use existing models in its nearby Crossroads subdivision. That 298-lot project is about one-half-mile east of the northeast corner of Greenfield and Williams Field roads in Gilbert, and roughly three miles south of Coronado Ranch. Pew says Providence eventually may decide to build new models. Construction financing to come from within. Build out expected to take 12 to 18 months. Get more from Pew and Poulsen at (480) 649-0543. Talk to Cooper at (310) 860-9459. Contact Sher at (310) 566-7004. Reach Hotis, Olsen and Morganstern at (480) 967-1300. 


March 3, 2000  - Volume VI, Number 9 ~ Source: BrewAZ.com
RICHMOND AMERICAN TO BUILD 178 HOMES IN GILBERT 

Gilbert -- Richmond American Homes of Phoenix (Ron French, division pres.) plans to build 178 residences at the southeast corner of Germann and Pecos roads in Gilbert. The seller was The Newport Group in Scottsdale (Rob Napoli, principal). The transaction was brokered by Dave Headstream of Southwest Agribusiness Services Inc. (SASI) in Phoenix. On the day before that sale, The Newport Group paid $2.7 million to buy the land from a partnership formed by the Lamoreaux family in Gilbert (Melba Lamoreaux, principal). That deal was negotiated through Bill Olsen and Bryan Morganstern of Hogan & Associates Inc. in Tempe. The Newport Group retained a 10-acre commercial site that was acquired in the purchase from the Lamoreaux family. Joel Broder, senior v.p. for Richmond American, says the company intends to build on lots averaging 6,900 sq. ft. (60x115) and 8,050 sq. ft. (70x115). Three-, four- and five-bedroom units to range from 1,412 sq. ft. to 2,727 sq. ft. Pricing to range from $125,000 to $159,000. Models to open in August. Community being called Windmill Ranch. Richmond American, a subsidiary of Denver-based MDC Corp. (NYSE:MDC), gets its financing from the parent company. Get more from French and Broder at (602) 956-4100. James Johns is contact for The Newport Group . . . reach him and Napoli at (480) 991-7921. Headstream is at (602) 224-0001. Olsen and Morganstern are at (480) 967-1300. 


June 11, 1999  - Volume V, Number 23 ~ Source: BrewAZ.com
INVESTOR BUYS 42 ACRES IN MESA, RESELLS PARCELS TARGETED FOR WALGREEN’S & APARTMENTS 

Mesa -- Investor David Cain in Scottsdale paid roughly $2.75 million to purchase 42 acres at the southeast corner of Power and Elliot roads in Mesa. The seller was a company formed by Mesa-based investor John O’Hara. The sale was negotiated through Bill Olsen and Bryan Morganstern of Hogan & Associates in Tempe. On the same day of the acquisition from O’Hara, records show Cain sold 32.5 acres of the site in two deals totaling a combined $3.35 million. In a $2 million transaction, Cain sold 12 acres to a company formed by Semper Development in Minneapolis, Mn. The sale was brokered through Ray Chaiang of Trinity Real Estate in Phoenix, and Tom Boyle of Lee & Associates Arizona Inc. in Phoenix. Sources say Semper intends to use the land to develop a Walgreen Drug Store. No further details on that project. And in a $1.35 million sale, Cain sold a 20.5-acre parcel to Farnham Cos. Inc. in Scottsdale (Chuck Duff, principal). That sale was negotiated through Chaiang. The site is planned for 346 apartments. No word on Farnham’s intentions for that property. After selling those parcels, Cain still has a 6.8-acre site on Elliot and 2.5 acres on Power. Both parcels are zoned C-2 for commercial use, and are available for purchase. Chaiang is marketing . . . asking price is $2 per foot. O’Hara continues to own another 43 acres adjacent to the parcel sold to Cain. That land, zoned for commercial and industrial uses, is being marketed by Olsen and Morganstern. Those pads range from 1 to 25 acres and are priced from $1.25 to $2.50 per foot. In September, BREW reported a company formed by Cain and investor Carl Swenson paying almost $3.7 million to acquire 105 acres at the northeast corner of Crismon Road and the Superstition Freeway (Highway 60) in Mesa. That property to be developed as a commerce park. Cain and his investors are looking to acquire similar parcels of land across the Phoenix area. In 1997, BREW reported Cain spending $2.45 million to buy an 8.1-acre parcel along the east side of Hayden Road, and between Acoma and Gelding drives in Scottsdale. Last year, Cain resold the property for $3.8 million. Find out more from Cain at (480) 368-9205. Talk to O’Hara at (480) 396-9600. Reach Olsen and Morganstern at (480) 967-1300. Catch Chaiang at (602) 759-3120. Elden von Lehe is contact for Farnham . . . (480) 425-5806. Kim Perry is representative for Semper on the Walgreen’s project . . . (612) 332-1500. 


April 3, 1998  - Volume IV, Number 13 ~ Source: BrewAZ.com
HANCOCK COMMUNITIES TO BUILD 142 RESIDENCES IN SOUTHEAST VALLEY 

Maricopa County -- Hancock Communities of Tempe (Greg Hancock, pres.) plans to construct 124 homes just east of the northeast corner of Chandler Heights and McQueen roads in Maricopa County. Hancock has agreed to purchase platted and engineered lots in a $2.36 million deal scheduled to close at press time. The seller is a company formed by Jim McDowell of McDowell Real Estate in Scottsdale. The sale is being negotiated through Rich Stone and Bryan Morganstern of Hogan & Associates in Tempe. Hancock says Taro Properties Arizona in Scottsdale (Larry Cox, pres.) will landbank the project, and sell the builder developed lots for $30,000 per home site. The lots average 10,625 sq. ft. (85x125). Hancock intends to build 2,800- to 4,500-square-foot homes. The four- and five-bedroom units will be priced from around $168,000 to $217,000. Models to open late summer, with build out expected to take around 18 months. Financing to come from within. Project being called Chandler Heights Arizona Estates. In January, BREW reported Hancock planning to construct 258 residences along the south side of Northern Avenue and along both sides of 109th Avenue in Maricopa County. Two lot products average 6,050 sq. ft. (55x110) and 7,150 sq. ft. (65x110). Hancock says plan is to build 1,100- to 2,265-square-foot residences. With those two projects, and several others in the pipeline, Hancock says the company soon will have 17 active subdivisions in the Valley. Get more from Hancock at (602) 303-6700. Talk to McDowell at (602) 990-8136. Reach the Hogan agents at (602) 545-9009.