{"id":1209,"date":"2021-05-06T20:39:39","date_gmt":"2021-05-06T20:39:39","guid":{"rendered":"https:\/\/waltonglobal.wpengine.com\/sc\/?p=1209"},"modified":"2022-02-08T21:25:35","modified_gmt":"2022-02-09T04:25:35","slug":"walton-completes-its-first-sale-to-oakwood-homes-in-a-new-phase-of-banning-lewis-ranch-in-colorado-springs","status":"publish","type":"post","link":"https:\/\/walton.com\/sc\/walton-completes-its-first-sale-to-oakwood-homes-in-a-new-phase-of-banning-lewis-ranch-in-colorado-springs\/","title":{"rendered":"Walton Completes Its First Sale to Oakwood Homes in a New Phase of Banning Lewis Ranch in Colorado Springs"},"content":{"rendered":"\r\n\r\n\r\n<p><strong>CORPORATE RELEASE\u00a0(May 7, 2021) \u2013<\/strong>\u00a0Walton has completed its first sale of 161 platted lots within Banning Lewis Ranch to Oakwood Homes. This is the first transaction under the option agreement with Oakwood in the master planned community of Banning Lewis Ranch in Colorado Springs, Co.<\/p>\r\n\r\n\r\n\r\n<p>Oakwood Homes holds an option to purchase the Walton-managed Banning Lewis Ranch property in several phases with plans to build residential homes as well as community parks and schools. The first phase of development began in 2020 with homes expected to be delivered in 2021.<\/p>\r\n\r\n\r\n\r\n<p>Located\u00a0at Woodmen Road along Marksheffel Road,\u00a0Banning Lewis Ranch\u00a0was named one of the\u00a050 Top-Selling Master Planned Communities in the nation in 2020 with a 62% increase in sales over 2019,\u00a0according to RCLCO\u00a0Real Estate Advisors.<\/p>\r\n\r\n\r\n\r\n<p>Banning Lewis Ranch provides convenient access to downtown Colorado Springs and is located<br \/>15 minutes from the Colorado Springs Airport and\u00a010 minutes from Interstate 25.<\/p>\r\n\r\n\r\n\r\n<p>A joint venture comprised of Walton and a U.S. family office that currently owns 900 acres of the property, with approximately 500 acres remaining owned by another group of Walton investors.<\/p>\r\n\r\n\r\n\r\n<p>\u201cWe are excited to be a part of one of the fastest growing communities in Colorado,\u201d said\u00a0Jen Ruby,\u00a0Walton\u2019s Senior Vice President, Land. \u201cThis is the first sale completed between Walton and Oakwood Homes, and we look forward to more to come.\u201d<\/p>\r\n\r\n\r\n\r\n<p>Walton entered into a residential option agreement with Oakwood in mid-2020. Walton\u2019s option agreements are structured so the land is bought in phases over time as part of Walton\u2019s successful exit-focused strategy of holding land for future development and providing just-in time inventory to builders.<\/p>\r\n\r\n\r\n\r\n<p>\u201cThe Banning Lewis Ranch exit is anticipated to maximize returns to investors and exceed the original investment objectives over the life of the land option agreement, while at the same time meeting local market demand with new residential development,\u201d Ruby said.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Walton has completed its first sale of 161 platted lots within Banning Lewis Ranch to Oakwood Homes. This is the first transaction under the option agreement with Oakwood in the master planned community of Banning Lewis Ranch in Colorado Springs, Co.<\/p>\n","protected":false},"author":1,"featured_media":239530,"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":"2880","footnotes":""},"categories":[19,17],"tags":[],"class_list":["post-1209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-release","category-newsroom"],"acf":[],"_links":{"self":[{"href":"https:\/\/walton.com\/sc\/wp-json\/wp\/v2\/posts\/1209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/walton.com\/sc\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/walton.com\/sc\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/walton.com\/sc\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/walton.com\/sc\/wp-json\/wp\/v2\/comments?post=1209"}],"version-history":[{"count":0,"href":"https:\/\/walton.com\/sc\/wp-json\/wp\/v2\/posts\/1209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/walton.com\/sc\/wp-json\/wp\/v2\/media\/239530"}],"wp:attachment":[{"href":"https:\/\/walton.com\/sc\/wp-json\/wp\/v2\/media?parent=1209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/walton.com\/sc\/wp-json\/wp\/v2\/categories?post=1209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/walton.com\/sc\/wp-json\/wp\/v2\/tags?post=1209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}