Updated Feb 5, 2025
Lennar Homes Acquires 23.2-Acre Development Site In Ontario For $16M
13150 Archibald Avenue
$16,000,000
Building Size
—
Asset Type
Development Site
Closing
Nov 14, 2023
About this deal
AI
Lennar Homes has purchased a 23.2-acre land parcel in Ontario, Southern California, for $16 million. The site, located at 13150 Archibald Ave, is planned for a development featuring 126 row townhomes, 83 single-family detached cluster units, and 56 single-family homes. The property offers convenient proximity to major highways and airports.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $16,000,000
- Address: 13150 Archibald Avenue
- Market: Ontario
- Acres: 23.2
The buyer, Lennar Homes, was represented by Stuart Miller. The seller of the land parcel was Robert B. Barth and Kimberly Ashlock.
Players
Ontario Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93