Storyrock 80 Acres - Scottsdale, AZ
DFG Structured a $7.88M loan to close an 80-acre parcel of land in North Scottsdale, AZ located in the the Storyrock Master Plan Community which is currently in back to back escrows. The Borrower is in the controlling second escrow that was structured to be the “land banker’ for a national public home builder.
The land has been in escrow for over 3.5 years while zoning and land planning were being obtained from the City of Scottsdale.
The home builder is scheduled to close their escrow upon Final Plat approval by City of Scottsdale and substantial value has been added to the property during the entitlement phase.