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Mahogany Creek
FUND II, LLC
In another success story demonstrating Continental East Development’s ability to create profitable opportunities for its investors, CED completed a short sale to purchase the former Menifee 108 “Mahogany Creek” residential tract from Comerica Bank in June 2009. Mahogany Creek offered CED an attractive opportunity to purchase 108 semi-improved lots in the City of Menifee Village Specific Plan.
Once again displaying their expertise in Real Estate, CED management identified the property’s superior location and how direct access from Newport Road would position it for exceptional home buyer traffic and home sales. Located in one of the most desirable residential areas in the City of Menifee, this community features lifestyle amenities, including a 36-hole golf course, multiple lakes, and the area’s premier shopping centers.
Situated across the street from newly constructed communities, including Sea Homes, El Dorado, and the new Heritage Lakes Master Plan, Mahogany Creek greatly benefited from the completed infrastructure for these new home projects.
After acquiring Mahogany Creek, Continental East Development completed new civil engineering and positioned the property to sell to a public builder. Just as it was for the Sweetwater acquisition, Continental East Development successfully executed its exit strategy ahead of schedule and at a substantial return for its investors.
In March 2013, CED successfully sold Mahogany Creek to D.R. Horton, the nation’s largest homebuilder. D.R. Horton finished the project in 2014, featuring 108 single-family homes. Continental East Development is proud of the ahead of schedule and successful execution of its initial exit strategy. CED’s management team again demonstrates its ability to turn around undervalued properties and provide profitable returns to our investors.