SCOTTSDALE, Ariz.\u00a0(March\u00a024, 2021) \u2013\u00a0Walton, a real estate investment and land asset management company with US$3.39 billion under management,\u00a0has\u00a0sold\u00a0276 lots\u00a0in\u00a0Victorville\u00a0and\u00a096 lots\u00a0in\u00a0Moreno Valley,\u00a0both\u00a0located in the Riverside-San Bernardino-Ontario metropolitan area, to\u00a0D.R. Horton, the largest homebuilder by volume in the United States.\u00a0<\/p>\r\n\r\n\r\n\r\n
The Victorville sale of 52 acres\u00a0for a planned community named\u00a0Santolina\u00a0closed in March 2021 and\u00a0is located in\u00a0the West Creek master plan at Mojave Drive and Cobalt Road. The San Bernardino County pre-development land is planned for 276 single-family homes ranging from 1,602 to 2,617 square feet\u00a0offering a variety of homes for\u00a0individuals,\u00a0families\u00a0and multi-generational households. Development of the property is anticipated to begin\u00a0this spring\u00a0with home sales\u00a0expected to\u00a0start in\u00a0summer\u00a02021.\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n
Victorville is a leading city for both industry and retail in the High Desert region. It is a growing, vibrant community, home to mountain vistas and family-friendly recreational activities\u00a0including Spring\u00a0Valley Lake, and within a few hours of SoCal beaches, national parks\u00a0and mountain retreats. Located within a 10-minute drive of shopping centers and restaurants, three schools are adjacent to the property including a charter school, elementary\u00a0and middle school.\u00a0I-15 provides\u00a0convenient\u00a0access to employment centers\u00a0located throughout the\u00a0Riverside-San\u00a0Bernardino\u00a0area.\u00a0<\/p>\r\n\r\n\r\n\r\n
In a second transaction, Walton sold 30 acres\u00a0located at Alessandro Boulevard and Brodiaea Avenue in\u00a0the\u00a0planned\u00a0community\u00a0called\u00a0Del Sol in\u00a0Moreno Valley. The final platted property is\u00a0intended\u00a0for 96 single-family homes ranging from 1,978 to 2,722 square feet. Walton entered into\u00a0a\u00a0residential land option agreement\u00a0with\u00a0D.R. Horton\u00a0who\u00a0acquired\u00a0the land to develop\u00a0the\u00a0community\u00a0perfect for\u00a0first-time homebuyers.\u00a0Development of the property is anticipated to begin\u00a0this spring\u00a0with home sales\u00a0anticipated\u00a0in\u00a0late fall\u00a02021.\u00a0<\/p>\r\n\r\n\r\n\r\n
Moreno Valley is the second-largest city in Riverside County,\u00a0offering a\u00a0family-friendly community\u00a0and good access to one of the most active employment corridors in the Inland Empire.\u00a0The community features acres of parks, bike paths and scenic vistas and is home to schools, great dining, the Cottonwood Golf Center and March Field Air Museum.\u00a0<\/p>\r\n\r\n\r\n\r\n
The\u00a0Victorville and Moreno Valley\u00a0properties\u00a0are\u00a0located\u00a0in\u00a0the expanding\u00a0residential\u00a0areas of the Inland Empire of southern California, 45 minutes from Ontario Airport and\u00a0provide\u00a0commuter access to\u00a0downtown\u00a0Los\u00a0Angeles\u00a0and San Diego.\u00a0<\/p>\r\n\r\n\r\n\r\n
\u201cWe are\u00a0excited\u00a0to\u00a0support\u00a0the delivery of new homes in highly desirable communities like\u00a0Victorville and Moreno Valley,\u00a0which are\u00a0prime for residential development,\u201d said Ed Hadley,\u00a0Executive\u00a0Vice\u00a0President\u00a0of Builder Land Acquisition\u00a0for Walton.\u00a0\u201cThese\u00a0new-home\u00a0communities\u00a0contribute to\u00a0the greater infrastructure of the\u00a0Inland Empire\u00a0region and provide\u00a0affordable single-family\u00a0living\u00a0as well as\u00a0an\u00a0attractive investment opportunity,\u00a0which is one\u00a0of\u00a0Walton\u2019s\u00a0exit-focused\u00a0strategies\u00a0working with national builders to acquire land.\u201d\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n
Walton currently has several thousand acres under\u00a0management in the Inland Empire area\u00a0and is actively\u00a0working on a number of\u00a0additional\u00a0land opportunities in the area.\u00a0<\/p>\r\n\r\n\r\n\r\n
Walton\u2019s portfolio of more than 105,000-acres located across the United States and Canada, provides\u00a0\u00a0a scalable land acquisition platform to support homebuilders with just-in-time inventory. Walton\u2019s approach is an innovative response to secular shifts in the land development industry.\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n
For\u00a0more than\u00a040 years, Walton\u00a0has researched, planned, and structured\u00a0pre-development land\u00a0investments\u00a0located in the\u00a0major\u00a0growth corridors throughout the United States\u00a0and Canada. The evolution of Walton has opened the door to creating\u00a0additional\u00a0opportunities for\u00a0investors and\u00a0homebuilders\u00a0alike.\u00a0<\/p>\r\n","protected":false},"excerpt":{"rendered":"
Walton has sold 276 lots in Victorville and 96 lots in Moreno Valley, both located in the Riverside-San Bernardino-Ontario metropolitan area, to D.R. Horton, the largest homebuilder by volume in the United States.<\/p>\n
Inland Empire Business Journal<\/p>\n","protected":false},"author":1,"featured_media":239411,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[19,17],"tags":[],"class_list":["post-1270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-release","category-newsroom"],"acf":[],"_links":{"self":[{"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/posts\/1270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/comments?post=1270"}],"version-history":[{"count":0,"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/posts\/1270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/media\/239411"}],"wp:attachment":[{"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/media?parent=1270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/categories?post=1270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/walton.com\/de\/wp-json\/wp\/v2\/tags?post=1270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}