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Real Estate Deal looking for Investors, on Development of Subdivision

Posted by UtahCribs, Real Estate, Homes on April 6, 2009

talavera-acquisition-summary-4-6-09

We have a couple clients who are in the process of trying to buy Talavera (development off of Creek Road and Highland drive in Cottonwood Heights) right now through a loan, but are being held up with the Sellers/Banks.  If they could put this deal together another way, with private money perhaps, they would be happy to do it.  They have several divesture strategies worked out including building in phases or as build jobs arise, selling some lots wholesale and holding the rest, or a combination of both.  
– 28 Luxury lots
– Average lot size is .65 acres.
– August 2007 appraisal of $22,510,000
– Pre approved Short Sale price of $5,000,000
– Average lot purchase price of $178,571
This area is called the Downs, a lot of you are probably familiar with this development. It used to be the old trailer park that they were finally able to tear down. This is a very prestigious area, and will be a great place to have a development. As the market is down, this is a great opportunity for someone to come in and capitalize on the opportunity. So if you know anyone who is looking for a project let me know. Also I have attached the old info sheet for the property, so you can look at the old pricing they were trying to achieve at the peak of the market. They current buyers of the property are looking for Hard Money, a partner to joint with, private money or any other creative way to purchase the property for $5,000,000. 
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2 Responses to “Real Estate Deal looking for Investors, on Development of Subdivision”

  1. James Macdonald said

    I refer to your request for an investor to fund your business.
    It sounds interesting and I would love to know more about your business.

    If you are still looking for an investor, please send me more information relevant to your project.Please send your reply to my personal email address:macdonald_j60@yahoo.com

    I am representing a very serious investor who wish to remain anonymous at the moment.

    Kind regards,
    James Mc Donald

  2. Ryan said

    Is this opportunity still in play? Please email me to discuss and give us a chance to talk offline.

    Thanks,
    Ryan

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