Larry H. Miller Real Estate recently acquired Daybreak, a master-planned community in South Jordan, UT, from Värde Partners. The purchase consists of more than 1,300 undeveloped acres including an ownership interest in a portion of existing commercial assets and future commercial development as well as remaining undeveloped residential property.

“We look forward to building on the already established success of this community with the remaining undeveloped commercial area and the thousands of residences to be built within this regional destination area,” says Steve Starks, chief executive officer for the Larry H. Miller Group of Companies.

The transaction does not include existing homes within the Daybreak community and certain other assets.

“While Daybreak is truly unique, it is a great example of Värde’s approach to investing in and growing master-planned communities throughout the U.S.,” says Brendan Bosman, managing director at Värde. “Daybreak is an ecosystem consisting of a talented development team, planners, homebuilders, financial partners, the city of South Jordan and residents all working together to create a vibrant community.”