IE Business Daily Business news for the Inland Empire.
A 20-acre master-planned community in Palm Springs has been sold.
Escena Palm Springs was sold by SunCal, a real estate developer that specializes in master-planned communities, to Toll Brothers, a developer of luxury homes, according to a statement.
Cost of the transaction was not disclosed. Land Advisors Organization in Irvine represented SunCal in the negotiations.
Located at 1100 Clubhouse View Drive, Escena is a gated enclave next to an 18-hole golf course designed by Jack Nicklaus that includes a 16,000-square-foot clubhouse.
SunCal acquired Escena in April 2022. It sold about 40 percent of the remaining undeveloped lots within the project to various homebuilders, including a 17-acre parcel to Richmond American Homes.
Richmond American is building Vest, a 52 single-family home development on that property, according to the statement.
