Located in Coachella, California, Vista Escondida is a Walton managed land asset owned by a Walton institutional fund. Originally acquired in 2013, the property consists of 217 serviced residential lots. In October 2019 Walton entered into an option agreement to sell the entire asset to D.R. Horton Inc., structured as a phased takedown with quarterly lot closings.
D.R. Horton closed on the first 28 lots in October 2019 and started selling homes shortly after. In March 2020, the homebuilder closed on an additional 26 lots delivering combined distributions of US$1,885,688 to the fund.
The community is named Escondida Pointe and D.R. Horton is building their Express Homes product line with prices for single-family detached homes starting in the low $300,000’s. Floor plans offer up to 1,874 square feet with up to 4 bedrooms plus a loft.
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