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$80 Million Master Planned Community in Arizona

Tartesso is a 49,000 residential units master planned community in Arizona located off Sun Valley Parkway and is the third largest development in Buckeye.

PHOENIX & IRVINE, Calif.–(Business Wire)–A joint venture between Bixby Bridge Capital of Northbrook, Ill., Quantum Capital of Phoenix, Ariz., and Dolphin Partners, Inc., of Irvine, Calif., has closed on an 11,000-acre, a fully entitled master-planned community located in the city of Buckeye, Ariz.
 master planned community in Arizona

The sale was for a reported $80 million, which represents the largest land purchase in the area since the housing market downturn of 2008.According to Kevin Pitts, President of Dolphin Partners, the master planned community in Arizona, called Tartesso, will have more than 41,000 homes at full buildout. “We are extremely excited that we were able to complete this acquisition,” Pitts said. “No other property that we could find checked all the boxes—our metrics point toward a continued recovery and expansion of the local housing market, and this asset is uniquely located with a full range of amenities to address that growth.”

Photo Taken by Me of the Tartesso Entrance

Photo Taken by Me of the Tartesso Entrance (Photo credit: Wikipedia)

The sellers were Stardust Holdings and a related charitable foundation. Through their stewardship, the property was fully entitled, with more than 3,000 finished lots developed before the downturn.

“We are very impressed with the work the Stardust development team completed,” Pitts said. “As a result of those efforts, Tartesso will become a premier community within the greater Phoenix market and, in particular, the city of Buckeye.”

Pitts said that DR Horton recently began a new housing development within the original first phase of the project. It’s the first new housing to be developed within the community since the housing recession.

Stardust Holdings and its affiliated charitable foundation were represented by Nathan & Associates, Inc., of Scottsdale, Ariz.

About Dolphin Partners

Established in 1985, Dolphin Partners oversees a portfolio of commercial and residential real estate investments throughout the Western United States. The firm is headquartered in Irvine, Calif., with additional management offices located throughout Southern California. Dolphin Partners has an impressive track record of identifying investment opportunities that meet or exceed its investors’ expectations. For more information, visit dolphin-partners.com.

Dolphin Partners, Inc.
Kevin Pitts, President
[email protected]