GOODYEAR, AZ-ARCUS Private Capital Solutions LLC has acquired 10,200 acres known as the Amaranth master-planned community for $32.5 million. The company, based in nearby Gilbert, is led by Andrew Martin and Denny Barney.

ARCUS bought the land out of foreclosure from Amaranth Land LLC, a consortium of three banks led by Goldman Sachs. The lenders took back the property in June 2009 from the previous owner, Scottsdale, AZ-based Montage Holdings, which was unable to maintain debt service on the $250 million note.

Located on State Route 238, the project is situated about eight miles west of the city of Maricopa. The city of Goodyear annexed the property following Montage’s purchase in 2006. Amaranth is planned to include roughly 44,000 residential units, 1,600 acres of office and retail projects and 700 acres of industrial space.