Monday, October 25, 2021 / by Juan Grimaldo
Estrella master-planned community sold to heavy-hitting joint venture
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.
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By Angela Gonzales, Senior Reporter, Phoenix Business Journal