4,150 Acre Land Site in Florence Sells, Planned for 12,000 Homes and Commercial Space


GTIS Partners, a global real estate investment firm managing $4.3 billion in gross assets with a U.S. focus on residential and industrial/logistics investments, announced the sale of 4,150 acres at Merrill Ranch to El Dorado Holdings.

Merrill Ranch is located in Florence, AZ, in close proximity to the Phoenix’s Southeast Valley, about 20 miles southeast of Gilbert, Chandler and Mesa. The site is comprised of approximately 14,000 planned lots of zoned and partially-entitled residential land and 900 acres zoned for commercial use. During GTIS’s ownership, the firm worked with the town of Florence to extend a development agreement granting homebuilders reduced impact fees to incentivize future development of single-family homes in the area.

Theodore Karatz, Managing Director at GTIS, stated, “Merrill Ranch was one of many strategic investments we’ve made in and around the Phoenix, Arizona area.” He added, “The sale of these unique properties represents a very successful outcome for our investors despite challenging markets.”

The firm has an extensive track record of investing in residential real estate, including land development and home building projects with a focus on the U.S. Sunbelt totaling approximately $7 billion in project cost across 100+ projects.

GTIS was represented by Nathan & Associates, Inc. on the sale of Merrill Ranch.

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