PASADENA, CA.– Brandywine Homes has acquired 12 lots in the 2.2-acre Estates Pasadena community in East Pasadena. Construction of a dozen four-bedroom to five-bedroom houses will begin this month, with anticipated completion in May 2014.
Purchase price for the lots was not revealed. The deal was financed, but terms were not disclosed. Estates Development Group LLC was the property's seller.
Dave Barasic, VP of sales and marketing at Brandywine Homes, tells GlobeSt.com the opportunity to purchase in a largely developed area drove the deal. Homes are anticipated to sell for around $1.25 million, but that could change as the project is developed, Barasic says. The lots were finished, Barasic says, and some have beginning construction slab supports.
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