PHOENIX, AZ — JF Companies, Inc., with offices in Phoenix and Denver, has completed the sale of its 3,000 acre Trillium development, west of Phoenix, Arizona to an adjoining developer and homebuilder. Trillium, acquired five years ago in the town of Buckeye, has its infrastructure and master plan complete, and will now serve as the entrance community for Douglas Ranch, a planned 34,000 acre development. Douglas Ranch developers El Dorado Holdings, Inc., Sonoran West Properties (a subsidiary of JDMD Investments, LLC), and the Apollo Group are the purchasers.
JF Companies, with chairman Joel Farkas and president Chris Paulson, said the sale of Trillium represents a “substantial increase in value” over the five years JF has owned the land. Farkas said they’ll use the revenue to proceed with the beginning phases of their Balterra development, also in Phoenix’s West Valley, as well as other new acquisitions.
The town of Buckeye has approved the community master plan for the Trillium property, which is entitled for more than 8,800 homes; 107 acres of commercial, retail, dining and office; 3.5 school sites and approximately 1,000 acres of open space. The new property owners are reviewing the existing plan to examine how it relates to Douglas Ranch and fits within Buckeye’s general plan. The finalized property plan is anticipated within the next few months.
JF Companies made news last month with the announcement of a new venture with former Colorado Governor Bill Owens — the JCB Group — to focus on identifying and acquiring available land throughout the western U.S. and select locations in Europe and the Pacific Rim for residential/commercial development and investment projects.
JF Companies is a real estate firm with offices in Denver, Colo. and Phoenix, Ariz., founded by Joel H. Farkas. JF Companies has been continuously active in residential communities, mixed-use developments and regional utility systems. With more than 15 active master planned communities in its portfolio in Arizona and Colorado, the company developed, entitled or has plans in process for more than 45,000 residential home sites. Active and completed JF Companies projects include communities in Commerce City, Brighton, Parker, Thornton as well as Adams and Weld Counties. Its Arizona projects include the Orpheum Lofts in downtown Phoenix, Centerra and Fronterra Village in Goodyear, and Balterra and Balterra Sewer Corporation in Maricopa County.
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