Residential Land | Greater Scottsdale, AZ | October 2013
JEN purchased an existing master planned community called Vista Verde in October of 2013 consisting of 150 fully finished large custom lots and 454 undeveloped acres entitled for 657 units. Significant infrastructure was in place including spine roads, bridges, and a high caliber 18-hole golf course, and . The property was (and still is) the only new golf resort community in this sought-after area of the Valley in several years. The Tonto National Forest serves as the community's eastern border, and the nearby Verde River brings with it amazing recreational opportunities and scenic beauty from hiking and walking trails to road bike and mountain bike trails, fishing, and boating. JEN was able to re-entitle the property for 1,285 units, and in November of 2014 sold the raw land for $59.5mm, retaining 137 large custom lots with an estimated value of approximately $30mm.