Argosy Real Estate Partners Exits Its Residential Land Investment in Ontario, CA
On December 23, 2020, a partnership between Argosy Real Estate Partners and operating partner RCCD Inc., a Distinguished Company, sold a 10-acre parcel entitled for 106 residential lots in Ontario, CA to homebuilder Woodside Homes. The partnership had previously sold a contiguous 50-acre parcel entitled for 229 lots to homebuilder D.R. Horton.
The partnership acquired the 60-acre site and completed the entitlements for 229 residential lots and master plan uses which included a park and middle school. The site is located in the Ontario Ranch Master Plan, an infill area located in the previously undeveloped “Dairylands” region of the western Inland Empire. The school district declined its option to acquire the 10-acre school parcel, which enabled the partnership to pursue and procure additional entitlements for 106 residential lots.