INVESTMENT COMPANY BUYS 35 FINISHED LOTS AT TOLLESON MEADOWS SUBDIVISION

Tolleson – Tolleson Holdings LLC in Phoenix (Peter Fratt, Justin Ferrandi, Tracy Glass, principals) paid $315,000 ($9,000 per lot) to acquire 35 finished homes sites within a partially completed subdivision in Tolleson called Tolleson Meadows. The seller was K. Hovnanian Great Western in Phoenix. The sale was brokered through James Johns of The Hogan Group in Scottsdale. Of the home sites, 32 average 4,275 sq. ft. (45x95) and 3 lots average 2,560 sq. ft. (32x80). The home sites are part of a 170-lot subdivision located east of the southeast corner of 83rd Avenue and Van Buren Street. K. Hovnanian Homes completed 135 residences before deciding to unload the remaining lots. Tolleson Holdings intends to sell the home sites to a builder. Fratt, Ferrandi and Glass have teamed up to buy other residential properties in the Valley. The Phoenix investors are looking for more finished lots. Find out more from Fratt and Ferrandi at (602) 489-5082. Call Glass at (480) 968-0322. Talk to Johns at (602) 553-4106.

Click here to view this article from its source.