Brookfield Residential entered the Phoenix market in 2013 through a strategic joint venture to acquire the 3200 acre community of Eastmark. We subsequently acquired 160 acres at San Tan Ridge in the Southeast Valley and entered a joint venture with New York real estate investment firm JEN Partners to acquire Vista Verde, an 850 acre community in the Northeast Valley.
Eastmark is ideally located in the top growth corridor of the Phoenix Metro area and is adjacent to the fast-growing Phoenix-Mesa Gateway Airport. It is envisioned to be a large-scale mixed-use community and our involvement in the development aligns with our strengths in developing master-planned and mixed use projects across North America. Eastmark was ranked the #5 Best-Selling Master-planned Community in the United States for 2019 and has remained the #1 best-selling community in Arizona 2015 – 2019; it was currently ranked among the top 10 best-selling MPCs of the decade.VIEW EASTMARK'S COMMUNITY SITE
After acquiring Vista Verde, Brookfield/JEN sold the golf course and 450 raw acres to Shea Homes to develop an 1100 unit Trilogy at Verde River Ranch. Brookfield/JEN sold an additional 63 lots to Toll Brothers and Monterey retained 73 lots for future sale.