Shopoff Sells First Phase of Desert Moon Estates

Shopoff Realty Investments has sold the first phase its 200-acre Desert Moon Estates property in Buckeye to Forestar Real Estate Group. The first phase included 254 lots, and Forestar plans to develop the site.

Shopoff acquired Desert Moon Estates in 2009, and created value by re-engineering the site to provide improved lot segmentation and to reduce costs to finish the lots with value engineering. It is approved for more than 700 homes.

Greg Vogel and Ryan Semro from Land Advisors in Phoenix marketed the property and were the brokers for the transaction.