One of largest active master-planned community purchases takes place in Arizona

A joint venture of Värde Partners, Toll Brothers and Harvard Investments has partnered to acquire the 20,000-acre, mixed-use Estrella property, in one of the largest active master-planned community purchases in Arizona.

Located 17 miles west of Phoenix, Estrella houses more than 7,000 families, with more than 18,000 remaining acres available for development. The acquired assets include current and future home sites, multi-family and commercial parcels, a golf course, and developer-owned facilities. Estrella will continue to actively develop new neighborhoods for builders, with additional parcels coming online soon.

“We believe Estrella represents a compelling opportunity against a backdrop of continued strong

demand for housing in major Sunbelt markets, and complements our existing portfolio of master-planned communities,” said Brendan Bosman, managing director at Värde Partners. “This multifaceted transaction reflects the deep experience we’ve built a