El Dorado Obtains AZ Acreage for $38M

El Dorado Holdings Inc. paid $38.4 million to acquire 1,101 acres at Bella Vista Farms in Pinal County, Arizona. The sellers were Harvard Investments Inc. and Rockwood Capital LLC. El Dorado, based in Phoenix, acquired the land as an investment for an eventual residential community. Much of the land is currently being farmed.

The acreage is bound by Skyline Road on the north, Bella Vista Road on the south and Sierra Vista Road on the east. Union Pacific railroad tracks represent the property’s western boundary.

Nate Nathan, Courtney Buck, Ryan Duncan and Dan Baldwin of Nathan & Associates brokered the transaction. With the buy, El Dorado Holdings owns 1,500 acres at Bella Vista Farms, which could support more than 5,000 homes.

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