Dream Finders Homes Inc., a Florida-based homebuilder, has announced its first foray into the Arizona market with the acquisition of around 300 lots, a move that diversifies its geographical footprint and caters to the burgeoning demand for homes in the Phoenix metro area, according to ABC15.
The two significant purchases—on opposite ends of the city—include a large chunk of land in the master-planned community of Bella Vista Farms in San Tan Valley and an impressive 36.57 acres at El Cidro in Goodyear. Terra Firma Capital Corp., which serves as the land banker for Dream Finders Homes, disbursed a sum of $20.4 million to acquire 160 lots from Landsea Homes Corp., as detailed in a report by ABC15.
This parcel is positioned west of the southwest corner of Cotton Lane and Elwood Street at El Cidro. In contrast, a further $6.36 million was expended for 122 lots in Bella Vista Farms, a transaction made with Scottsdale-based El Dorado Holdings Inc. according to information provided by Vizzda LLC and obtained by KTAR.
Phoenix's real estate market has seen a flourish of activity, propelled by high demand for ready-to-build residential lots. Heather Cammiso, Arizona Division President of Landsea Homes said, as stated by KTAR, "With a high demand for platted and engineered lots in the Phoenix metro area, we saw a great opportunity to diversify our portfolio and sell a parcel in El Cidro to Dream Finders Homes."
