IRVINE, CA—Foremost Communities and its relatedentities have sold 622 lots in three separateresidential developments in California's Inland Empire for acombined $62 million to D.R.Horton, the nation's largest homebuilder.

The sale includes 246 finished lots—178 lots at MissionEstates in the city of Jurupa Valley and68 lots at Rosena Ranch, a master-plannedcommunity in the Lytle Creek area of SanBernardino County—as well as 376 fully entitled, but undevelopedlots at Bella Strada, a master plannedcommunity located within the city of Fontana.

“We acquired these properties several years ago when theland market in the Inland Empire was at a low point,” saidSteve Cameron, president of Foremost, one of themost active land buyers in Southern California since its launch in2007. “At this point, Foremost has added all the value we canthrough modified entitlements and cleaned-up development issues.We've seen significant market lift and have sold these propertiesto achieve our business plan objectives.”

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.