CORPORATE RELEASE: We are excited to announce that D.R. Horton has exercised their option and closed on Walton’s River Oaks Land Acquisition and Development (“LAD”) financing project, located in Hemet, California in Riverside County.
The Walton River Oaks property is expected to be marketed as Heritage Pointe and is in the highly desirable area of South-East Hemet, at the intersection of Elk Street and Thornton, adjacent to the Seven Hills residential golf community.
When Walton acquired the property, an option agreement was executed between Walton and D.R. Horton whereby D.R. Horton would acquire 299 lots on the property. Now that the closing of the property is complete, land development is expected to begin this spring, with the first homes anticipated to be available in early 2022.
River Oaks is one of many expected LAD-strategy sales anticipated for 2021. Walton’s portfolio of more than 105,000 acres located across the United States and Canada provides a scalable land acquisition platform to support homebuilders with just-in-time inventory. We look forward to seeing the final build out of D.R. Horton’s community at River Oaks.