Shea Homes has acquired a 28-acre parcel of land in El Cajon for $6.5 million.
The company plans to build 36 estate homes in what its calling Fuerte Ranch Estates at the southeast corner of Fuerte Drive and Damon Lane.
The seller was RP Communities, LLC.
David Santistevan, Erin McKinley, Gunder Creager and Ciara Trujillo of Colliers International in San Diego represented RP Communities.
“The lack of new housing in East County San Diego has created significant pent up demand,” said Santistevan, senior executive vice president at Colliers International. “Shea Homes will help meet this demand and capitalize on being one of the only luxury projects coming to market in the area.”
Real estate reporter Ray Huard may be reached at email@example.com or 858-277-8904.