Walton Successfully Closes on 290 Acres in Buckeye, Master Plans
Commercial Executive Magazine, 2020/04/14
Walton, a real estate investment and land asset company with US$3.8 billion under management and administration, has sold 290 acres in the Mystic Vista and Vista Bonita masterplans located in Buckeye, Ariz.
MPC Developments, LLC has purchased 145 acres in the Mystic Vista community located at Apache Road and Southern Avenue. Mystic Vista is zoned fully residential for 564 single family detached homesites.
Villa Capri Mobile Home Park, LLC bought 125 acres consisting of two parcels of land in the Vista Bonita master plan located in the vicinity of Apache Road and Broadway Road. These two projects are zoned residential for approximately 500 single family detached homesites. Previously, 20 acres of Vista Bonita were sold to the City of Buckeye for the construction of a new water campus.
Buckeye is the country’s 7th fastest growing city, located just 35 miles west of downtown Phoenix. The community is easily accessible to all the amenities of Arizona’s capital, yet far enough away to retain a small-town feeling.
Buckeye is experiencing rapid growth with more than 30 master-planned communities approved and 2,651 single family permits issued in 2019, according to the Buckeye Valley Chamber of Commerce.
“The westernmost suburb of the Phoenix metropolitan area, Buckeye is a prime investment market where both high demand and growth are providing great opportunity,” said Jen Ruby, Senior Vice President, Land for Walton.
Walton is also currently in negotiations for selling property in another Buckeye master plan to a leading national homebuilder.
Walton’s 104,000-acre portfolio located in the United States and Canada provides a scalable land acquisition platform to support homebuilders with just-in-time inventory management. Walton’s approach is an innovative response to secular shifts in the land development industry, which is increasingly challenged to finance acquisition with debt.
For more than 40 years, Walton has researched, planned, and structured pre-development land investments located in the major growth corridors throughout the United States and Canada. The evolution of Walton has opened the door to creating additional opportunities for investors and homebuilders alike.