Regent Properties Sells 91 lots in Greer Ranch North In Two Transactions Over 3 Weeks

Regent Properties of Arizona sold 49 finished lots to Richmond American Homes of Arizona for $2,337,300 within the Greer Ranch North community, located South of the Southwest corner of Reems and Catus Roads in Surprise.

The 49 lots in Phase I that conveyed average 53′ x 115′. The Greer Ranch North community consist of two phases. Phase I totals 411 lots on 127.75 gross acres, Phase II totals 467 lots on 128.48 gross acres; totaling 878 lots on 256.23 gross acres.

This sale comes on the heels of Regent Property’s recent disposition 42 other lots in Phase I (all measuring 63′ x 115′) to Gehan Homes on August 20th, 2012 for $2,381,400 or $900 per front foot. Regent originally acquired the property in November of 2008 as 620 lots in Phases I & II of the community for $9,384,171.

By:

Dan Alpers

Director of Municipal Outreach

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