San Diego, CA — Ashbrook Communities recently acquired 62 single family detached in the supply restricted Palm Springs marketplace.
Privatly held Ashbrook Communities, principals Tim McGowan and Richard Crook, intend on building 62 luxury homes ranging from 2,400 to 2,900 square feet priced from the high $400,000's. The site is nestled in the foothills on the southside of Highway 111 . Ashbrook acquired the lots from a partnership between Sanderson J. Ray and GME Development, both based out of Irvine, California. Capstone Advisors provided the equity for this transaction.
GW Realty Co. specializes in real estate brokerage and valuation consulting with an emphasis in residential land throughout Southern California, and has over $1.5 billion in transactions since 1993. A non-traditional real estate firm, GW Realty Co. concentrates their efforts on key relationships with a select group of clients and properties. Due to the decreasing supply of available development properties, GW Realty Co. is continually searching for and finding development opportunities 'flying below the radar'.
Graham G. Weiss and Ralph Di Bianco exclusively represented the Seller in this transaction. For additional information on this transaction or other opportunities in the Coachella Valley please contact us at (858) 622-7171.