Richmond American Homes bought 73.91 acres of land in Queen Creek for $25,417,725.75, according to the commercial real estate tracking website Vizzda.
The land is located at 21843 E. Queen Creek Rd. In Queen Creek.
The sale price breaks down to $343,901.04 per acre.
The seller was Communities Southwest.
The land is intended to be part of the proposed Madera West Estates, a 219-lot single-family residential subdivision.
Nathan & Associates represented both the buyer and the seller.
A note on the sale states, “On May 4, 2021, Lennar Homes acquired property from Richmond American Homes for $25,417,725.75.”