51 Residential lots
The Hillcrest community is a 51-lot subdivision located in the City of Wildomar in southwest Riverside County. The graded lots were acquired in an R.E.O. sale with First Citizens Bank in mid-2011. The expedited all-cash purchase was consummated with a local joint-venture capital partner. Since the acquisition, the final engineering has been completed, paving the way for the final map to be recorded, thereby legally separating the lots. The business plan calls for the semi-improved lots to be sold to a merchant builder in late-2014.