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.”
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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.
