Walton Global Sells 111 Acres Near Phoenix to D.R Horton
Maricopa land known as Elena Trails purchased by one of the nation’s top homebuilders
Phoenix Business Journal Article
Walton Global, a real estate investment and land asset management company, recently announced the successful sale of Elena Trails, a 111.4-acre parcel in Maricopa, Arizona to D.R. Horton, America’s largest homebuilder. D.R. Horton is closing on Phase 1 of the development after Walton Global’s initial purchase in December of 2023. The new community is estimated to deliver 456 homes with wide and diverse ranges of housing options on various lot sizes upon completion.
The property was acquired through Walton Global’s Builder Land Financing program, a land investment business line launched by the company 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.
“We’re excited to continue working with D.R. Horton to bring much needed new home inventory to the City of Maricopa,” said Paul Bae, Vice President, Portfolio Management for Walton Global. “This new community has great access to schools in close proximity, sitting adjacent to Desert Sunrise High School, and will also benefit from the significant employment growth in the area, including the new Intel Ocotillo Campus in Chandler and the Lucid Plant in Casa Grande.”
Elena Trails is situated on the southeast corner of Murphy Road and Farrell Road in Maricopa. The site is a well-planned community with planned amenities such as a covered park and BBQ area, community garden, and turf sports field. Upon completion, the estimated 456 single family homes will cater to a wide range of buyers, including first-time homebuyers, with prices estimated to start in the low $300s. Homes are targeted to be delivered in 2025.
“D.R. Horton is pleased with its ongoing relationship with Walton Global,” said Brent Davis, Division President of D.R. Horton’s Phoenix division. “We look forward to continuing to provide new homes at an attractive value in the City of Maricopa and building another great community for our residents to enjoy.”
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.
