Tag Archives: JEN Partners

The Enclave At Borgata has unveiled The Debut, a preview center showcasing the new luxury condominium homes on the former Borgata retail site.

The Enclave at Borgata opens preview center

Scottsdale’s new luxury condominium residence, The Enclave at Borgata, has opened its preview center, called The Enclave Debut. It is located near the southwest corner of Scottsdale Road and Lincoln Drive, on the former Borgata retail site at 6176 North Scottsdale Road – between Blanco and Paul Martin’s. The Debut offers an introduction to the only new luxury condo homes to come to market in central Scottsdale in many years. It is open from 10 a.m. to 7 p.m. daily, or by appointment. “We are thrilled to open The Debut during the height of the winter visitor season, showcasing the superior quality of this condominium community, as well as the convenient access to the restaurants and retail offerings that are within walking distance from The Enclave at Borgata,” said Mike Jesberger, President of Phoenix-based Antera Development.

Staffed by uniquely qualified sales associates who understand the needs of the luxury buyer, The Debut features interactive technology to explore the various homes and features. And, prospective buyers can also learn about the engaging community lifestyle and amenities.

The Enclave at Borgata will include only 90 home opportunities, ranging in size 1,500 to 3,100 square feet. There are select opportunities to combine two units to create a home upwards of 5,400 square feet. Pricing starts at approximately $500 a square foot. Special attention has been paid to a high level of quality, inside and out, including Wolf and Sub Zero appliances, generous patios and balconies, and views of Camelback Mountain. On site amenities include gated entry, lush landscaping, generous fitness facility, resort-style pool, demonstration kitchen, outdoor kitchen, resident clubroom, lounging/conversation areas inside and out to connect with neighbors, walking path and a dog park.

For more information visit EnclaveAtBorgata.com or call (480) 362.5283.

The Enclave at Borgata is a 90-unit luxury condominium residence community being developed at the northwest corner of Rose Lane and Scottsdale in Scottsdale, Arizona. It will fill a unique buyer niche based on pricing, quality, amenities and unsurpassed location . The project is being built by Antera Development and is funded by JEN Partners. www.EnclaveAtBorgata.com andFacebook.com/EnclaveAtBorgata.

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JEN Partners closes land deals in Gilbert

JEN Partners closed five separate land transactions totaling 163.79 acres and 569 lots, in the master planned community known as the Bridges at Gilbert – located just east of the northeast corner of Higley and Ocotillo Roads in Gilbert.   JEN Partners sold to local builders: Maracay Homes, Lennar, Taylor Morrison, David Weekly/TW Lewis, Shea, and Woodside for $23,114,317. All transactions were negotiated by Nathan and Associates Inc.

According to JEN Partners’ Mike Jesberger, “We’re pleased to work with these builders to bring the Bridges at Gilbert community to the marketplace.  We will continue to work together to develop the property and look forward to seeing it take shape.”

“Maracay is very pleased to join these other builders in developing this master planned community in the heart of Gilbert and the East Valley,” said Tom Lemon, Vice President of land acquisitions and development for Maracay Homes.

The Bridges at Gilbert community will include the following lots: 111, 45’x115’ lots on 24.42 acres purchased by Lennar; 97, 60’x120’ lots on 30.48 acres purchased by Taylor Morrison; 78, 80’x130’ lots on 35.49 acres purchased by David Weekly/TW Lewis; and 97, 45’x115’ lots on 20.49 acres purchased by Shea Homes.

JEN Arizona 5 LLC, a Land Banking entity controlled by JEN Partners and managed locally by TerraWest Communities, purchased the remaining 113, 50’x115’ lots and 73, 70’x125’ lots, totaling 52.9 acres for $7,886,163. Under separate Option Agreements JEN Arizona 5 LLC will sell the 73, 70’ lots and 67, 50’ lots to Maracay Homes and 46, 50’ lots to Woodside.

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Maracay Homes, JEN Partners Close Of 74 Lots In Chandler

JEN Partners closed on 23-acres east of the south-east corner of Ocotillo Road and Lindsay Road in Chandler. Known locally as the Pastorino Dairy, the final plat is approved for 74, 60’ x 120’ lots and was annexed, zoned and platted by Maracay Homes.

Opening spring of 2013, the community will be named Vaquero Ranch and feature Maracay Homes’ 45’ wide home series ranging from 1,800 – 3,700 square feet.  Prices will be based on market conditions at opening date.

“This acquisition is a good example of Maracay’s continued pursuit of land opportunities in premium locations with capital efficient transaction structures,” said Tom Lemon, VP of land acquisitions and development for Maracay Homes. “Maracay Homes is excited about the opportunity to develop a land banking relationship with a well capitalized partner that has significant local market and home building expertise.”

JEN Partners, a NY Private Equity Firm managed locally by TerraWest Communities, paid $2.3 million for the property.  The seller was the Estate of Londo Pastorino.  Under separate agreements with JEN Partners, an entity of Maracay Homes, Maracay VR, LLC, will develop the home sites and purchase them on a rolling option basis.

Donna Bolen of Arizona Enterprises brokered the underlying purchase.  No broker was involved in the land bank transaction.