Closed Land Transaction – 82 Lots within the Alberhill Ranch Master Planned Community in Lake Elsinore

IRVINE, CA, SEPTEMBER 1, 2016 — The Irvine office of Land Advisors Organization, a premier nationwide land brokerage firm, announced today the successful closing of Alberhill Ranch 82 Lots within the Alberhill Ranch Master Planned Community. Alberhill Ranch 82 Lots is located west of Interstate 15 at the southeast corner of Lake Street and Alberhill Ranch Road in the City of Lake Elsinore, Riverside County, California.

Land Advisors Organization brokers R. Jeffrey Spindler, F. Brian Carricaburu, Ian T. Sinderhoff, and Andrew Sinderhoff negotiated the transaction, representing the buyer and seller.

The lots were sold by Castle and Cooke Alberhill Home Building, Inc. and was purchased by KB Home. KB Home is looking to continue the success of its two previous projects within the Alberhill Ranch Community, Terraces I and Terraces II. Alberhill Ranch is a 1,853-acre development with approximately 3,705 residential units and over 600 acres dedicated to open space with walking trails, parks, and schools.

“Affordability has been a primary concern for the public homebuilders in the Inland Empire over the last couple of years. KB Home has been very successful in Lake Elsinore with their Terraces community in Alberhill Ranch. These home sites with excellent views of the lake and surrounding hillsides and generous 6,000 square foot pads will allow them to continue that success. Alberhill Ranch is a premier master-planned community sitting atop the hills north of the lake with an existing pool and recreation center, proposed commercial, and planned elementary school,” said Brian Carricaburu, Founding Principal at Land Advisors Organization.

For additional information regarding this transaction and land trends occurring in the Riverside County area, contact F. Brian Carricaburu: bcarricaburu@landadvisors.com / (949) 656-8002

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Master-Planned Project in the Inland Empire Marketed by LAO Makes Progress for a Year-end Close…

The Arantine Hills master-planned project in the City of Corona continues to move closer to reality. The project went under contract with The New Home Company in the 4th quarter of 2013 and is expected to close in December of this year. The New Home Company entered a joint venture with Tricon Capital Group, a Canadian real estate investment company, to provide acquisition financing and develop the community. They intend to re-plan and re-entitle the 276-acre project to include 1,300 homes, parks, and open space. They expect to break ground in 2016 to begin selling lots and new homes.

LAO is looking forward to a successful consummation of the transaction with The New Home Company and are very pleased in their efforts to develop this exciting new community in Corona.

Related links:

Wall Street Journal

The New Home Company Announces Planned Acquisition of Master Planned Community in Southern California

Press Enterprise

Corona housing development back on the drawing board

Coachella Valley: 1, 2, 3… Cha Cha Cha…

Some impressive numbers are driving growth within the Coachella Valley. 10,000… 300,000… and 3,600,000… According to the Social Security Administration, these are the numbers of Baby Boomers who are turning 65 years old each day, each month and each year, respectively, for the next 19 years! 

Ranked by CNN Money.com as the second Best Retirement Destination in the United States, Palm Springs (and the rest of the Coachella Valley) is experiencing growth and demand today not seen in many other markets across the US.

From a land investment perspective, demand and activity within the Coachella Valley and Imperial Valley is decidedly picking up.

  • Toll Brothers is demonstrating that selling new homes in the Coachella Valley for $740,000 IS possible.  The Nation’s top luxury homebuilder sold FIVE homes in its first month of sales at their new Alta project in Palm Springs.
  • With the majority of the finished lot opportunities spoken for within the Valley, interest in entitled but undeveloped land is picking up.
  • D.R. Horton is having success finding qualified home buyers for Renaissance at the Gallery in Palm Desert.  With homes ranging from $269,990 to $355,000 the community is at about 50% build-out and is seeing increased interest from potential buyers. 
  • In 2011 the volume of resale home transactions within the Coachella Valley was 96% of the 2004 market peak (7,275 vs. 7,574). Conversely, 2011 new home building permits are at the lowest levels since before 1983 according to Marketwatch, LLC.

CLOSED DEAL IN IMPERIAL CO.!  The Coachella/Imperial Team (Stone James & David Landes) represented the buyer (investor) and the seller (lender) in the sale of 222 acres of prime farmland located within Brawley city limits.  This Imperial County buy-and-hold asset has an approved Specific Plan for 1,149 residential units.  Contact Stone or David for more details on the deal.

Source: Stone James, Marketing Consultant, (760) 219-7227