(Mark Your Calendars: RealShare REAL ESTATE 2012, March22nd in Los Angeles).
SALES
SAN RAMON, CA-The Hoffman Co. has closed thesale of the Faria Preserve property to LaffertyCommunities, a private, family-owned developer, in one ofthe largest land transactions in the East Bay area in severalyears. Faria Preserve is a roughly 440-acre property annexed in2009 by the City of San Ramon, the heart of the East Bay realestate market. Construction is projected to commence in 2014 withthe first model homes expected to be open by 2015. The FariaPreserve development is a master-planned residential community setamong the rolling hillsides on the northwestern edge of San Ramon.It consists of a Tentative Map approved for 786 units ranging fromsingle family detached homes to multifamily apartments. Thecommunity also will boast an assortment of public amenitiesincluding active parks, open space and natural resourcepreservation. GlobeSt.com has learned that the total project costin the acquisition and development of the site is in excess of $100million.
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