Walton Global Acquires 111-Acre Parcel in Maricopa, Arizona
Land Secured for Residential Development in Arizona Path of Growth
Phoenix Business Journal Article
Walton Global, a real estate investment and land asset management company, recently announced the acquisition of Elena Trails, a 111.4-acre parcel in Maricopa, Arizona. The Elena Trails property is estimated to contain over 450 homes, with the new development to consist of a wide and diverse range of housing options on various lot sizes.
The Elena Trails acquisition represents significant traction for Walton Global’s Builder Land Financing program, a new land investment business line the company launched in 2020. This initiative was designed to assist homebuilders nationwide in securing land assets until they are prepared to begin the horizontal development and vertical construction of new homes.
“Walton Global takes pride in the momentum our Builder Land Finance Program has achieved this year, and the Elena Trails acquisition stands as another significant milestone in the expansion of this business line,” said Paul Bae, Vice President, Portfolio Management for Walton Global. “While we’re ending the year on a strong note, we’re eagerly anticipating the beneficial opportunities this program will bring to investors, homebuilders and ultimately homebuyers in 2024.”
Situated on the southeast corner of Murphy Road and Farrell Road in Maricopa, Elena Trails is a well-planned community with zoning and preliminary plat approvals already in place. All of the estimated 456 residential lots are free from floodplain constraints, which mitigates common challenges experienced in the Maricopa submarket. Upon completion, the Master Plan will cater to a wide range of buyers, including first-time homebuyers, with prices estimated to start in the low $300s.
Pinal County offers a business-friendly environment and an overall affordable cost of living. It has become a manufacturing and technology hub, which continues to generate a large volume of construction jobs and other high-paying, long-term employment opportunities. With Elena Trails in the northwest quadrant of Pinal County, residents will also benefit from proximity to Highway 347 and I-10, providing accessibility to Phoenix.
Walton Global continues its commitment to increasing housing supply in areas with strong growth potential such as Maricopa. Elena Trails sits nearby the recently built Tortosa Master Planned Community, which was constructed on land previously owned by Walton Global and sold to homebuilder D.R. Horton.
