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(949) 748-6714 | 2151 Michelson Drive, Suite 250 | Irvine, CA 92612 Home | Contact Us |
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Dorado Skies - Lancaster, Los Angeles County, CA Project Description Dorado Skies is a partially developed 169-lot community in the City of Lancaster. Forestar acquired six partially-completed model homes, 109 finished lots and 54 blue-topped lots. The City of Lancaster will continue as a strong growth corridor for metro Los Angeles, particularly for buyers who are looking for affordably priced single-family homes. Background Dorado Skies was started by DR Horton. At the end of 2008, DR Horton marketed a portfolio of assets in order to capitalize on the carry-back of tax losses. Forestar was able to document the acquisition and complete the diligence in less than three weeks to meet DR Horton’s year-end closing requirement. Value Added Forestar negotiated modifications to the conditions of approval to get certificates of occupancy on the models. Forestar then sold the model homes to a local builder who finished and sold the homes. The sale of the models greatly reduced Forestar’s basis in the remaining lots which are being held until the market improves. |
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"Foremost Values" Excellence in everything we do. • An environment of teamwork and trust. • The value of each employee. Commitment to our partners and customers. • The importance of profitable operations. Integrity in the conduct of our business. |
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