Fund II
Land Fund II was formed in 2006 for the purpose of providing investment capital for land bank financing and direct investments in residential land. Of the total $125 capital commitment, Everest has deployed approximately $55 million in ten transactions encompassing 1,730 single family detached residential lots. The transactions are located in Arizona (7) and Nevada (3). Although the initial investment (made in March 2007) was a land bank transaction, every transaction since has been a direct investment in residential land at significant discount to improvement cost.
Building off of its strong relationships in the homebuilding industry, Everest has positioned itself as a preferred partner for public and private builders. Everest intends to hold the lots for investment and will sell lots to builders on terms or in bulk as the residential housing market improves.
Estrella Mountain Ranch - 135 lots, Goodyear, AZ - March 2007
Heartland Ranch - 227 lots, Coolidge, AZ - September 2007
Vienna Hills - 187 lots, N Las Vegas, NV - December 2007
Mission Royale 1 - 77 lots, Casa Grande, AZ - February 2008
Encantada Estates - 213 lots, Buckeye, AZ - February 2008
Glennwilde 1 - 101 lots, Maricopa, AZ - March 2008
Mission Royale 2 - 77 lots, Casa Grande, AZ - July 2008
Villages - 287 lots, N Las Vegas, NV - July 2008
Glennwilde 2 - 101 lots, Maricopa, AZ - November 2009
Cobblestone - 268 lots, N Las Vegas, NV - December 2009
Bethany Estates/Falcon - 126 lots, Phoenix, AZ - December 2009
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