Thursday, Nov. 5, 2009 | 10:14 a.m.
Land acquisitions of home lots by builders, developers and investment groups continue to pick up.
SunCal Companies has purchased the lots formerly owned by Kimball Hill Homes as part of its liquidation. Developer SunCal Companies acquired 639 finished lots and 433 partially-finished lots in 11 communities throughout Las Vegas and Henderson.
The total value of the transaction was $20.07 million, says Michael Stuart, senior vice president of the land division of Colliers International. It was an all-cash deal financed through D.E. Shaw Group, he says.
Kimball Hill Homes filed for Chapter 11 bankruptcy protection in 2008.