IHP Capital Partners Closes Finished Lot Sale to Toll Brothers in Santa Clarita Valley
SANTA CLARITA, Calif. (March 11, 2024) – IHP Capital Partners (“IHP”), a leading national residential real estate investment manager, announces the closing of 60 “finished” single-family lots within the Tesoro Highlands master-planned community in Santa Clarita, Calif. to Toll Brothers, Inc. (NYSE: TOL), one of the nation’s leading homebuilders. The completed transaction marks the first of a three-phase sale for a total of 137 lots within Tesoro Highlands.
“The closing of Toll Brothers’ first finished lots is an exciting milestone in the development of Tesoro Highlands, a beautiful new community in the scenic hills of Santa Clarita,” said Chris Bley, co-president and chief investment officer at IHP Capital Partners. “IHP began delivering finished lots within the masterplan in the first quarter of 2023 and has delivered 348 finished lots to date. We are pleased to welcome another quality homebuilder to the community that will bring the vision for Tesoro Highlands to life and provide an exceptional living experience for its residents.”
Developed by IHP affiliate, Newport Pacific Land Company, Tesoro Highlands is a 1,274-acre hillside community entitled for 820 homes and more than 800 acres of preserved open space. The mostly gated community will offer four distinct neighborhoods for families and age-qualified (55 years and over) residents. IHP previously delivered lots for 288 homes within Tesoro Highlands to Lennar Homes of California, which is actively selling homes within the masterplan.
Toll Brothers is offering two collections of single-story and two-story homes at Tesoro Highlands on large home sites, many with views of the surrounding natural landscape. Homes in the Bella Terra collection will range in size from 3,400 square feet to more than 3,700 square feet and include four to six bedrooms and four-and-a-half to six-and-a-half bathrooms. Homes in the Alta Monte collection will range in size from 4,700 square feet to more than 5,100 square feet and include four to six bedrooms and four-and-a-half to six-and-a-half bathrooms.
Toll Brothers’ first available homes at Tesoro Highlands were released for sale in January 2024. The onsite sales center is now open for interested home shoppers at 29918 N. Camino Los Robles in Valencia. Model homes are under construction and are anticipated to open in summer 2024.
“Toll Brothers is an excellent builder bringing homes to Tesoro Highlands, a unique upscale hillside community offering a tranquil and outdoor-focused lifestyle with convenient access to Santa Clarita’s bustling employment and entertainment centers,” said Doug Neff, chief executive officer at Newport Pacific Land Company. “New home demand in the Santa Clarita Valley remains strong, and Tesoro Highlands’ location and amenities make it an ideal choice for homebuyers looking for a well-rounded and high-quality living experience.”
Tesoro Highlands is within the city of Santa Clarita, which is 33 miles north of Los Angeles. Located in the northwestern part of the city, the community is uniquely nestled in the foothills of the Santa Susana Mountains. It is surrounded by scenic natural landscapes and provides sweeping distant mountain views of the Santa Clarita Valley.
The eco-friendly masterplan is designed to incorporate and preserve the natural environment and will provide access to more than 22 miles of regional trails and open space for recreational activities such as hiking and biking. Community amenities will include two recreation centers (one dedicated to the age-qualified homes) with pools and spas, tennis courts and seven private parks. An extensive trail system provides walkable and bikeable access to existing National Blue Ribbon schools for future residents.
Tesoro Highlands’ location also provides convenient access to Santa Clarita’s vibrant city life with ample shopping, dining and entertainment, education, and connectivity via freeways and regional transportation.
The lot sale transaction was facilitated by Land Advisors Organization, led by Terry Ruckle, Mac O’Donnell, Chris Shiota, Randy Coe, and Kwame Do.
“IHP Capital Partners continues to transact in 2024 and provide solutions for its builder and developer partners,” Bley added. “We are excited to see the continued progress at Tesoro Highlands, a landmark Southern California development, and are grateful for the work of the dedicated team at Western Alliance Bank for providing the project’s development financing.”
About IHP Capital Partners
IHP Capital Partners was founded in 1992 and celebrates more than three decades of industry leadership as one of the nation’s leading real estate investment firms. The company facilitates a path to success for its investor and development partners by providing equity for residential projects throughout the country, with a focus on the Western U.S. A tactical partner and trusted fiduciary, IHP’s track record is built on experience, expertise and long-term sustained partnerships with well-known institutional investors and a wide range of the industry’s most notable builders and developers. For more information, visit www.IHPInc.com. Follow the company on LinkedIn.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded 57 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.
In 2024, Toll Brothers marked 10 years in a row being named to the Fortune World’s Most Admired Companies™ list. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
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