Posted on February 28, 2018
Gold Canyon, AZ – Petrus Partners Ltd. (“Petrus”), in association with Voyager Investment Properties, LLC (“Voyager”) of Scottsdale, AZ (Mark Voigt and Dave Rogers, Principals), has sold 376 finished lots in Phase I of the Peralta Canyon master planned community for $23.2 million. Six leading homebuilders including Lennar, Cal-Atlantic, Gehan Homes, Beazer Homes, David Weekley Homes, and KB Home purchased finished lots in the master planned community between June 2017 and February 2018. Bret Rinehart and Ryan Semro of the Land Advisors Organization represented the seller.
Peralta Canyon is located in Gold Canyon proximate to Highway 60, 14 miles from Mesa and 18 miles from Phoenix Mesa Gateway Airport. Major retailers, restaurants and services are within a 10-minute drive, with a health club and multiple movie theaters also nearby. Peralta Canyon is situated at the foot of Superstition Mountain adjacent to the Superstition Mountain Wilderness, is a short drive from the Peralta Trailhead on Superstition Mountain, and is near the proposed 480-acre Peralta Regional Park.The area offers ample opportunities for hiking, bike-riding, photography, camping and other outdoor activities. Moreover, Gold Canyon is also home to five 18-hole championship golf courses.
Peralta Canyon is situated between two completed residential developments and is the last available master planned community in Gold Canyon. In the second half of 2018, Petrus and Voyager plan to begin the development and sale of Phase II of Peralta Canyon, which will consist of 375 finished lots.
Petrus Partners is the parent company of Crown West Realty, a full-service real estate investment, development, and management firm with offices in New York City, Phoenix, Denver, Tucson, and Spokane. Petrus-Crown West manages a series of discretionary investment funds which own a nationwide portfolio of office, industrial and agricultural properties as well as over 10,000 residential lots. Petrus-Crown West is expanding its activities in supplying finished lots to homebuilders in growing western cities including Phoenix, Tucson, Reno, Las Vegas and Denver.
Petrus actively seeks additional investment and development opportunities in housing and residential land in the Western U.S. Potential investment opportunities should be submitted to Chris Bennett at Petrus Partners.