INVESTOR BUYS 56 FINISHED LOTS AT BASELINE MOUNTAIN RANCH SUBDIVISION

Phoenix – BMR Holdings LLC, a company formed by Perry Mathis of Cason Tyler Communities in Phoenix, paid $1.19 million to acquire 56 finished lots within the Baseline Mountain Ranch subdivision in Scottsdale. The seller was RMA Holdings LLC, a company formed by Arizona Business Bank in Phoenix. The cash sale was brokered by Jeff Beach, Kevin Hogan and James Johns of The Hogan Group in Scottsdale. The home sites, which average 6,050 sq. ft. (55x110), are located at the northwest corner of Baseline Road and 12th Avenue. Mathis says he intends to sell the lots to a home builder after the housing market rebounds. Mathis’ company acquired the property with private investors. Arizona Business Bank foreclosed on the property from the previous owner. Over the past year, companies formed by Cason Tyler Communities have acquired more than $50 million in troubled real estate loans and distressed properties. Mathis says the company is looking for additional residential investment opportunities in the Valley. Learn more from Mathis at (602) 957-1799. Patrick Sutter is the contact at Arizona Business Bank . . . call him at (602) 240-2705. Reach Beach at (602) 553-4120.

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