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Canadian Syndicator Closes on Multi-Million-Dollar Land Deal in Scottsdale, AZ

Alex Finkelstein

Posted by Alex Finkelstein 08/31/09 11:00 AM EST
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(SCOTTSDALE, AZ) -- Walton International Group Inc. of Calgary, Alberta, Canada, keeps rolling along in successful land closings for planned mixed-used communities in Canada and  the U.S.

The syndicator's most recent transaction covers additional acreage for the 1,375-acre master planned Cottonwood project in Scottsdale, AZ.

Rob Leinbach, chief operating officer of Walton International Group (USA), didn't disclose the value of the transaction or its size. A total 124 investors own equity in the latest closing.  The corporate owner of the land is Walton USA Cottonwood LP.

Located in Grayson County, TX,  Cottonwood is strategically situated north of Dallas, between Route 75 to the east and Route 289 to the west, in the North Dallas growth corridor.

"We continue to experience strong investor interest in quality real estate in strategic growth markets," says  Leinbach. "Likewise, we are seeing good opportunities for land acquisition in those strategic markets."

He says Walton has been researching and participating in North American real estate markets for 30 years. To date, Walton and its affiliates have completed the syndication of 26 land projects in Texas,  encompassing approximately 8,180 acres of land.

As with other Walton projects, Walton companies continue to act as manager of the Cottonwood project on behalf of the limited partners and landowners, and maintains a significant ownership interest in the Cottonwood property alongside limited partners and landowners.

So far in 2009, Walton has announced the completed syndication of 12 land-based real estate investment projects, in Georgia, Texas, Arizona and Ontario.

Leinbach says the current  Walton USA Cottonwood, LP closing follows announcements of completed land syndications for the Walton Ottawa Region Limited Partnership, Walton AZ Toltec LP/LLC, Camino Real Phase 1, Phoenix Sawtooth View 1, Walton Bluff Springs Land, LP, Walton AZ Silver Reef LP 3, Walton GA Arcade Meadows LP 1, Roseburgh Phase 1, Walton West Palmilla LP, Arcade Meadows Phase 1, and Oakridge Phase 5.

Walton International Group Inc. to date  has syndicated over USD $1.9 billion of land (CAD $2.2 billion) in Alberta, Ontario, Arizona, Texas and Georgia with over 56,000 investors and clients.



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