Kennedy Lewis Investment Management & Tri-Pointe Homes Purchase Land In Redlands

The transaction involved the sale of nearly 38 acres of land in Redlands located at the southwest corner of Wabash Avenue and San Bernardino Avenue. The property was sold for $14.7 million and is intended for a 98-lot single-family subdivision, featuring amenities such as a pedestrian paseo and private park. Situated near Redlands Sports Park and State Route 38, the land is strategically positioned for housing development in the Inland Empire.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $14,700,000
• Location: Southwest corner of Wabash Avenue & San Bernardino Avenue, Redlands
• Market: Redlands
• Buyer: Darren L. Richman & David K. Chene - Kennedy Lewis Investment Management; Tri-Pointe Homes
• Seller: Chang Family
• Acres: 37.86

The acquisition of the land was made by Kennedy Lewis Investment Management in partnership with Tri-Pointe Homes. This purchase, aimed at developing a residential subdivision, indicates a growing interest in real estate development in the area. The proximity of the property to key locations such as Redlands Sports Park enhances its appeal for potential buyers seeking a premium location for housing projects.