FOR IMMEDIATE RELEASE
Ingrid Vallon, Operations Manager
Land Advisors Organization, California Division
San Dimas, CA (May 23, 2017) – Land Advisors Organization, a nationwide advisory firm focused on the acquisition and disposition of land and land-related assets, is pleased to announce the successful sale of Saddle Creek, an approximately 10-acre site entitled for 28 single family detached lots in San Dimas, CA.
Land Advisors exclusively represented MJW Investments, LLC. in the sale of Saddle Creek, which was purchased by Saddle Creek 28 Group, LLC a subsidiary of Brandywine Homes, for an undisclosed amount. The transaction was led by Tim Barden, Senior Vice President at Land Advisors.
MJW Investments was able to assemble 5 separate property owners and navigate an entitlement process that took over 3 years to complete. “This was one of the more challenging transactions that we’ve completed considering all of the moving parts and the lengthy entitlement process. We are very pleased to have worked with Land Advisors throughout the process and excited to watch Brandywine Homes execute a successful build-out of the project” said Matt Waken, President of MJW.
San Dimas is a highly regarded city in the eastern part of San Gabriel Valley as it offers a blend of community amenities, wonderful parks, and excellent recreational facilities. San Dimas prides itself on its small town feel, community involvement, and superior public schools.
“Over the last couple of decades, the City of San Dimas has struggled to meet housing demands. Young families have been leaving the area for new housing opportunities in the San Gabriel Valley and the Inland Empire,” said Barden. “This project represents a rare opportunity to fill the large demand for new single family housing.”
With over 10 million residents, Los Angeles County is the most populous county in California and one of the most lot-restricted, particularly in the San Gabriel Valley. Large-lot infill developments like this are becoming a rarity as developers try to push density on infill sites in an attempt to meet demand. In recent years, small-lot and townhome developments have become the norm, however, the residents and city staff pushed to maintain the single family character of the community and ultimately approved a lower density development.
“As LA County continues to experience economic growth, the demand for housing is significantly increasing. With a lack of available buildable lots, the typical solution is to build high-density housing developments,” said David Kidder, President of Land Advisors. “Opportunities such as Saddle Creek are rare and we are excited to have executed this transaction on behalf of MJW.”
Land Advisors Organization is a nationwide advisory firm focused on the acquisition and disposition of land and land-related assets. With deep market expertise and a national network, Land Advisors helps clients identify and capitalize on valuable opportunities. The diversified LAO-CA platform includes Landmark Capital Advisors, disciplined in sourcing real estate debt and equity, and Market Insite specialized in consulting and research products for new homes and residential land.