Maracay pays $13.25M for land in Gilbert

Real Estate | 13 Sep |

Maracay, a wholly owned company of the TRI Pointe Group (NYSE: TPH), has closed on the purchase of 311 premium townhome sites in the prosperous area of Gilbert, Arizona. The $13.25 million purchase represents the last remaining parcel of The Lakes at Annecy, a partially developed master plan community.

Ryan Semro and Bret Rinehart of Land Advisors Organization brokered the transaction between Maracay and the seller, Annecy Recovery LLC. Maracay plans to re-plat the 311-townhome site for a total of 250 townhomes with larger liveable spaces, featuring all new two-story floor plans, ranging from 1,020 to 1,850 square feet. The new parcel adds to the first parcel of 216 attached and detached homesites Maracay purchased in 2017 that will come to market in early 2019, bringing the total number of Maracay homesites at The Lakes at Anency to 466.

“We’re excited to continue to develop homes in the heart of one of the fastest-growing cities in the country, where a booming economy, top-rated schools and a variety of shopping and dining options sit just outside this charming, amenity-rich community,” said Maracay President Andy Warren. “The Lakes at Annecy will include all-new FlexDesign® floor plans crafted specifically for the homebuyer seeking an active Gilbert lifestyle.”

First developed in the mid-2000s with resort-style amenities, including lakes, three pool complexes, playgrounds, basketball courts and tree-lined streets, Maracay’s The Lakes at Annecy neighborhoods will feature a mix of single-family detached and attached homes. The first phase of the townhomes will be available for purchase in early 2019 and additional townhomes will be available in 2020. The gated community is located within walking distance of the rapidly emerging San Tan Village area north of the Loop 202, east of Val Vista Drive. The new community’s location near San Tan Village puts it within easy reach of dozens of retail and dining options, as well as highly rated schools and major Valley freeways.

For more information on Maracay Homes and the Lakes at Annecy, visit www.MaracayHomes.com.

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