Land Advisors Organization’s Metropolitan Phoenix office announced the sale of The Asteria Highlands project, a 38.4-acre development site in north Scottsdale. The site is situated on the north side of the McDowell Mountains with views of Tom’s Thumb and Pinnacle Peak and is planned for 31 estate lots which will range from 0.5 to 1.25 acres. The property was sold by Hines who is a leader in all aspects of real estate services including land development, office, industrial and multifamily. Camelot Homes acquired the property and is planning to build homes that will complement their other successful projects in North Scottsdale including White Horse and Bronco along Pima Road.
“This will be a stunning project for Camelot Homes and we are excited to see them continue their success in north Scottsdale,” said Bret Rinehart of Land Advisors Organization’s Metropolitan Phoenix office. “This prime location with access to the McDowell Mountain Regional Park within walking distance coupled with the panoramic views are sure to attract home buyers to this property.”
Bret Rinehart, Ryan Semro, and Ben Heglie, who specialize in home builder developments and master-planned communities throughout Arizona for Land Advisors Organization’s Metropolitan Phoenix office, represented the seller in the transaction. The firm continues to advise clients on this product type and is working on several similar projects in the area.