Landsea Homes Acquires 476 Single-Family Homes At Sunrise Ranch In Surprise, Arizona
Landsea Homes has announced the acquisition of 476 finished single-family homesites at Sunrise Ranch in Surprise, Arizona. This strategic expansion aims to enhance its presence in the desirable northwest Phoenix market. The 130-acre community will feature a variety of home offerings alongside amenities such as parks and trails, with sales expected to start in mid-2021. The acquisition follows Landsea's planned merger with LF Capital Acquisition Corp. (NASDAQ: LFAC), set for Q4 2020, marking a significant milestone towards becoming a public company.
- Acquisition of 476 homesites at Sunrise Ranch bolsters Landsea's market presence.
- Sales anticipated to begin in mid-2021, indicating future revenue growth potential.
- Community features multiple amenities, enhancing appeal to buyers.
- No immediate financial metrics or projected costs related to the acquisition disclosed.
PHOENIX, Sept. 17, 2020 /PRNewswire/ -- Landsea Homes today announced another strategic expansion in Arizona with the acquisition of 476 finished single-family homesites at Sunrise Ranch in Surprise.
"Sunrise Ranch in Surprise provides Landsea Homes with another great opportunity to grow and expand in the highly sought-after northwest Phoenix market," said Greg Balen, Arizona division president, Landsea Homes. "We're looking forward to offering buyers these new homes that meet their needs, providing modern living with high-quality features and our great attention to detail at an attainable price point."
Sunrise Ranch is a 130-acre single-family community consisting of three different new home product offerings and multiple lot sizes anchored by an integrated network of community amenities, including a central park, active open space, and walking and biking trails. The community is located at the northeast corner of 171st Avenue and Jomax Road.
Home sales for Sunrise Ranch are expected to begin in mid-2021.
Surprise is a sprawling suburban city located in the northwest Phoenix Metropolitan area, just 45 minutes from Downtown Phoenix and the Sky Harbor International Airport. It's one of the 10 largest cities in Arizona, and residents and visitors enjoy the small-town feel with big-city amenities.
It's also close to Arizona State University and regional offices for well-known companies including American Express, Intel Corporation, Honeywell and Mastech Digital.
"The growing city of Surprise has something to offer everyone. It's safe, booming with family-friendly activities for all ages and employment opportunities, and we know that the general affordability of these new homes will be a big draw for families in the area," added Balen.
The Villages at North Copper Canyon, a Garrett Walker collection community by Landsea Homes is also currently selling in Surprise.
"Homes in Surprise have been selling at an incredible pace for Landsea," said Todd Condon, vice president of sales and marketing, Arizona division, Landsea Homes. "The Park at North Copper Canyon sold out in just 10 months and The Villages at North Copper Canyon have sold more than 120 homes in just six months. The sales success we've experienced in such a short period of time speaks to the true value of these homes and how strongly they are resonating with new homebuyers. With our acquisition of Sunrise Ranch, we are excited about the opportunity to grow in this submarket."
This news comes on the heels of Landsea's plan to merge with LF Capital Acquisition Corp. (NASDAQ: LFAC), which would make Landsea a public company in the fourth quarter of 2020.
For more information about Landsea Homes' Arizona communities, visit www.landseahomes.com.
About Landsea Homes
Landsea Homes is a California-based homebuilding company that designs and builds best-in-class homes and sustainable master-planned communities in some of the nations most desirable markets. The company has developed homes and communities in New York, Boston, New Jersey, Arizona, northern California and southern California.
An award-winning homebuilder that builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities, Landsea Homes is known for creating inspired places that reflect modern living and provides homebuyers the opportunity to "Live in Your Element". Our homes allow people to live where they want to live, how they want to live – in a home created especially for them.
Driven by a pioneering commitment to sustainability, Landsea Homes' Performance collection features homes that are responsibly designed to take advantage of the latest innovations with home automation technology supported by Apple®. Homes in this collection include features that make life easier and provide energy savings that allow for more comfortable living at a lower cost through sustainability features that contribute to healthier living for both homeowners and the planet.
Our Garrett-Walker collection offers unique, affordably priced and value-based single-family homes in some of the nation's fastest growing and most desirable markets. Homebuyers enjoy the confidence of owning a quality home that provides lasting value. One of the most trusted brands in the region, this collection continues to attract everyone from first-time homeowners to those seeking more room for their growing families.
Led by a veteran team of industry professionals who boast years of worldwide experience and deep local expertise, Landsea Homes is committed to positively enhancing the lives of our homebuyers, employees and stakeholders by creating an unparalleled lifestyle experience that is unmatched.
For more information on Landsea Homes, visit: www.landseahomes.com.
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SOURCE Landsea Homes
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