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Gates Affiliate Takes Controlling Stake in 20K-Acre PHX MPC

Mt. Lemmon Holdings LLC, an affiliate of Microsoft co-founder Bill Gate’s Cascade Investment LLC, acquired a majority interest in a nearly 20,000-acre tract of land in Phoenix’s West Valley for nearly $80 million. The development site straddles 339th Avenue north of Interstate 10, and is known as Belmont.

Belmont is entitled for nearly 80,000 residential units and more than 3,800 acres of industrial, office and commercial uses. The Gates’ entity investment is expected to spur the planning and development of Belmont forward.

Scottsdale, AZ-based LKY Development Co. Inc. leads the 12-member investment entity group that sold the property.

Belmont is envisioned as a forward-thinking community with a communication and infrastructure spine that embraces cutting-edge technology. It will be designed around high-speed digital networks, data centers, new manufacturing technologies and distribution models, autonomous vehicles and autonomous logistics hubs.

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Read more at BREW AZConnect With Cascade Investment LLC/Mt. Lemmon Holdings LLC

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Development
  • ◦Sale/Acquisition