JV Pays $80M for 10K Acres in Buckeye, AZ

Joint venture Buckeye Tartesso LLC shelled out $80 million to acquire 10,734 acres in Buckeye, AZ. The ultimate goal for the land is a housing development within a community called Tartesso. Additionally, more than 1,000 acres has been set aside for commercial and mixed-use developments, along with schools, parks and open space. Approximately 1,000 homes have already been built on adjacent land.

The acreage is bounded by 323rd and Northern Avenues. The buying entity consists of Bixby Bridge Capital, Dolphin Partners and Quantum Capital. The land was acquired in five cash transactions from Stardust Cos., located in Scottsdale. Nate Nathan, Dave Mullard and Casey Christensen of Nathan & Associates Inc. in Scottsdale handled the transaction, and will market the property, which has medium- and high-density zoning in place.

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