Dorado Skies
Lancaster, Los Angeles County, CA
East of 30th Avenue, south of J Street
Fast Facts
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 D.R. Horton. At the end of 2008, D.R. 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 D.R. 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.
Forestar sold half of the lots to KB Home.