Capstone Advisors, a real estate investment firm based in Carlsbad, has acquired 26.5 acres of land in Riverside County.
Capstone Advisors paid $3 million for the property.
The seller was not disclosed.
Planned to have up to 133 residential lots as a development named Tangerine, the property is near the Winchester Ranch area within the Winchester Hills Specific Plan adjacent to the nearly completed Conestoga Master Plan community with 5,250 homes and a planned 33-acre regional sports park.
Tangerine is Capstone Advisors’ most recent acquisition in the area and is near another of their current residential projects, Indigo Trails, which is entitled for 104 residential lots.
