168 Residential lots
The Sun Date II is a 168-lot subdivision in a Planned-Unit Development in the City of Coachella. The semi-improved lots were acquired in 2009 in a R.E.O. sale by Bank of America. In exchange for a bargain price, due diligence was completed in less than one week, closing one week thereafter to accommodate the Seller’s urgent deadline. The purchase was financed with syndicated equity. The lots have appreciated significantly and the business plan calls for a sale to merchant builder in 2015.