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

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California Division: 2012 Year in Review

LAO-CA Infographic 2012 YIR

Source: Tom Reimers, President, (949) 852-8288 x28