Pacific Communities (Nelson Chung, Principal) has acquired 40 finished lots located in Palmdale.  The lots are located at the SWC of 70th St W and Avenue M.  Recorded information shows that the transaction closed on July 24th, 2009.  The Seller in the deal was an LLC formed by TPMC Real Estate of Dallas, TX (David Weinreb, Principal).  TPMC is rumored to have acquired the note on the property from the previous lender.  The Trustee’s deed showed an outstanding balance of over $13 million at foreclosure.  The transaction price for the sale to Pacific Communities is unknown.

Pacific Communities owns various parcels in the immediate vicinity of the site.

The deal was brokered by Randy Coe and Michel Faris of Park Place Land Advisors.  Faris and Coe can be reached at 949-852-8288.

Pacific Communities can be reached at 949-660-8988.