Asante Development Partners, a venture between Lennar Homes, Pulte Homes and Taylor Morrison Homes, recently completed the purchase of a premier 836-acre land parcel in the city of Surprise, Arizona, for $111.7 million.
The land parcel is located within the Asante Planned Community in north Surprise and includes 752 acres of single-family residential land, (totaling +/-2,750 lots), as well as 56 acres of high-density residential land and 28 acres of commercial land. Asante, which was initially entitled in 2003, is generally located west of 163rd Avenue and north of Pat Tillman Blvd., and offers convenient access to the Loop 303 and the growing northwest Valley retail and employment corridors.
Land Advisors Organization’s advisors Mike Schwab, Greg Vogel, Bret Rinehart, Ryan Semro and Ben Heglie represented the seller, HE Capital Asante LLC, based in Dallas, Texas, which has owned the property since 2009.
“The Northwest Valley is one of the most active development areas in the Valley. This acquisition provides all three builders with the opportunity to continue their delivery of high-quality housing to the north Surprise market for the next 4 to 7 years,” said Mike Schwab, principal and designated broker with Land Advisors Organization. “By joining forces, these builders will provide future residents of the community with a range of diverse new home options, further adding to the area’s attractiveness.”