LOS ANGELES, CA — AUGUST 9, 2019 — Centre Urban Real Estate Partners has successfully sold, at an undisclosed price, Verdana by Davall Place, a fully entitled development project comprised of 27 finished lots located in the City of Rancho Mirage. Verdana is a legacy asset of Tahiti Partners Properties Corporation, which successfully acquired, designed, entitled, and disposed of the quasi-custom lots, including the annexation of the property into the prestigious City of Rancho Mirage from County of Riverside jurisdiction. Verdana represents the only available semi-improved & final map ready-to-record opportunity in the entire city of Rancho Mirage. The sale of Verdana is part of Centre Urban’s efforts to dispose of legacy assets not consistent with its current investment strategy.
Verdana will be a ±10-acre gated community offering modern, reasonably-priced homes in the $700k’s compared to the $1M+ comparable home prices. The property backs up to the sold out (last cycle) community of Tuscany to the south and is adjacent to the new state-of-the-art Rancho Mirage High School. Mission Hills Golf Resort & Spa - with 36 holes open year-round - is a golf cart ride away located just across Ramon Road.
Rancho Mirage is known as one of the most affluent cities in Riverside County with an average household income of $109,708. Some of America’s finest golf courses, most exclusive residential communities, and international events such as the annual Kraft Nabisco Championship. Many famous people have made Rancho Mirage their home including President Gerald R. Ford upon his retirement from the U.S. Presidency.
For more information:
Centre Urban Marketing