Buckeye, Arizona – July 31, 2018 – Shopoff Realty Investments (“Shopoff”), a national manager of opportunistic and value‐add real estate investments, announced today that its project, Desert Moon Estates, has been approved by the City of Buckeye. The approved development allows for future construction of a medium‐density residential housing community with 739 single‐family home lots across a nearly 200 acre site. The property is located on the southeast corner of Yuma and Apache Roads in the city of Buckeye, Arizona, in close proximity to retail shops, restaurants, and entertainment venues.
“Located just 30 miles west of Downtown Phoenix, this development project will support the booming city of Buckeye, which was named one of the fastest growing cities in the nation by the U.S. Census Bureau in 2017,” said Shopoff Realty Investments Chief Executive Officer William Shopoff. “The development will help to provide much needed housing for new area residents, while seamlessly fitting into the outdoor desert lifestyle Buckeye residents have come to enjoy.”
The Desert Moon Estates community will feature a walkable design with 46 acres of open space, including a trail system and parks. The approved residential project will feature three different lot sizes to accommodate the future builder’s market segmentation needs. The property was previously approved by the City of Buckeye in 2001. Shopoff decided to revise the plans and update the project’s design in order to meet the standards and amenities desired by today’s homebuyers.
John Santry, executive vice president of Shopoff Realty Investments’ Land Division added, “We have commenced the final engineering design, as well as the formal sales marketing of the site. We are excited to pass this project on to a competent local homebuilder, and watch the positive impact this development will have on the surrounding community.”
2017 Census Bureau findings:
https://www.census.gov/newsroom/press‐releases/2017/cb17‐81‐population‐estimates‐subcounty.html
About Shopoff Realty Investments
Shopoff Realty Investments is an Irvine, California‐based real estate firm with a 26‐year history of value‐add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income‐producing properties and the entitlement of land assets. The 26‐year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group). Performance has varied in this time frame. For additional information, please visit www.shopoff.com or call (844) 4‐SHOPOFF.
Disclosures
This is not an offering to buy or sell any securities. Such offer may only be made through the offerings memorandum to qualified purchasers. Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed to meet its investment objectives. Securities offered through Shopoff Securities, Inc. member FINRA/SIPC, 2 Park Plaza, Suite 1120, Irvine, CA 92614, (844) 4‐ SHOPOFF.
