IRVINE, CA--(Marketwire - Feb 2, 2012) - The Hoffman Company announced today that it has closed on a deal to sell 132 improved lots in San Juan Capistrano to homebuilder Taylor Morrison. The seller of the site was Newport Beach-based homebuilder and investor Pacific Communities.
The 28.35-acre parcel is in a gated community of the San Juan Hills Golf Course at the intersection of La Novia and Via Entrada. Most of the major infrastructure, including the gate house, is completed and the site is ready to be built out.
Construction is expected to begin on the remaining onsite improvements in the first quarter of 2012 and the first homes should be available by summer 2012.
"Taylor Morrison made a smart move in acquiring this property, which is one of the few ready-to-go project sites in South Orange County," said Jim Gallagher, one of The Hoffman Company brokers involved in the sale. "It's a fantastic location surrounded by existing neighborhoods in a highly sought-after community so it will be an instant hit with homebuyers."
Original plans for the new home community feature a recreation center and seven floor plans ranging from 1,700 to 3,000 sq. ft. Some of the lots would have golf course frontage.
The Hoffman Company, a leading land brokerage firm based in Irvine, Calif., has a second listing in San Juan Capistrano, a desirable coastal market where lots and land are starting to move more quickly.
"We absolutely are seeing a real flight towards quality A-plus locations like coastal Southern California," said Tom Dallape, a principal of The Hoffman Company. "After a relatively slow 2011, there are signs the land market is turning and buyer activity is picking up for 2012."
About The Hoffman Company
The Hoffman Company has been a leading land brokerage firm in Southern California for the past 30 years. Its brokers have closed more than 1,100 real estate transactions for a total $4 billion since the company's inception in 1978 and have booked an average of more than $500 million annually over the past five years. The Hoffman Company represents land owners of all property types, including residential, multi-family, commercial and industrial sites. For more information, call 949-553-2020 or visit www.hoffmanland.com.
Contact Information:
Genevieve Anton
714-544-6503