A heavy-hitting team has paid $212.5 million for the 20,000-acre Estrella master-planned community in Goodyear, making it the second largest transaction in the West Valley within the past week.

This deal, which closed Oct. 21, follows Howard Hughes Corp.'s $600 million purchase of the 37,000-acre Douglas Ranch in Buckeye.

Buying the property from San Diego-based Newland Communities, the new owners of Estrella are Scottsdale-based Harvard Investments Inc., Pennsylvania-based Toll Brothers Inc. (NYSE: TOL) and Minneapolis-based Varde Partners Inc.

To continue reading, click here.

By Angela Gonzales, Senior Reporter, Phoenix Business Journal