James P. Robertson, Jr. of Long Realty Commercial Services in Tucson, Arizona along with Mary Diaz of Long Realty Company assisted GS Real Estate Investments, LLC, in the purchase of 14 “builder-ready lots” known as the Savage Place Subdivision. The final sales price is undisclosed at this time. It was a distressed sale through foreclosure. The Seller was M&I Bank.
The buyer anticipates the ability to build a new home that competes in the current market flooded with foreclosures. The location of the property is in an area where the buyer can compete head-on, while filling the need for affordable housing in the east valley of Tucson.
“Only through a distressed sale would our client be able to deliver a new home product in this current market condition and still make a reasonable profit”, stated James P. Robertson, Jr. of Long Realty Commercial Services. He adds, “We are pleased to have been part of brining this development to our community, and look forward to seeing the development take place. This would offer new affordable housing to the East Tucson Market which is very much needed. Additionally, I want to thank M&I Bank Executives for the seamless and professional transaction.”
For additional information, contact Long Realty Commercial, James P. Robertson, Jr. at 520-918-5107.