Stuart Miller And Jon Winkelried Acquire 11.6-Acre Development Site In Saratoga For $109.7M

The property involved in the transaction is an 11.6-acre development site located at 14001 Chester Avenue in Saratoga, California, acquired for $109.7 million. This site is designated for a 52-home residential project that will also include 12 accessory dwelling units (ADUs). The construction for this project is expected to commence this week.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $109,700,000
• Address: 14001 Chester Avenue
• Market: Saratoga, CA
• Acres: 11.6
• Buyer: Stuart Miller - Lennar
• Buyer: Jon Winkelried - TPG
• Seller: Vineyard One Holdings

The deal was facilitated by the collaboration of Stuart Miller and Jon Winkelried, representing Lennar and TPG respectively, who have acquired the site from Vineyard One Holdings. The project marks a significant development in the Saratoga area with its planned residential units, indicating an upcoming enhancement to local housing options.