Two Cachet Homes subdivisions in East Valley facing trustee sale

Wells Fargo Bank NA filed a notice of trustee sale on two subdivisions being developed by Phoenix-based Cachet Homes: the 25-acre Stratland Shadows parcel in Gilbert and the 5.6-acre Serenity Shores community in Chandler. Both properties are scheduled to be sold at auction April 15. Wells Fargo loaned Cachet $37.2 million for the Gilbert property and $15.8 million for the Chandler property. Neither Cachet nor Wells Fargo representatives would comment on the matter because of on­going negotiations. “We cannot comment about this matter because our customer relationships are confidential,” said Wells Fargo spokeswoman Marjorie Rice.

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