IE Business Daily Business news for the Inland Empire.
A Los Angeles-holding company has purchased 229 lots in Ontario that will be used for residential development.
DR Horton bought the 48-acre property bordered by Chino and Bellegrave avenues from Ontario Schaeffer Holdings LLC, an investment group, for an undisclosed sum, according to WD Land in Irvine, which arranged the sale.
The transaction, one of several completed recently by WD Land in the Ontario area, was announced Wednesday.
DR Horton plans to offer three different products on lots ranging from 1,200 to 2,700 square feet. Size of the houses, as well as a price range, were not released.
The site is being graded, and the first “express” structures could be ready by as early as next summer, said Les Whittlesey, founding partner with WD Land.
Founded more than 20 years ago, WD Land is a brokerage company that negotiates land sales for builders, developers, investors and landowners, according to a statement.
