Scottsdale, Ariz.-based Land Advisors Organization on Monday announced the acquisition of Weinstein & Harris, a brokerage firm specializing in residential master-planned land and lot sales in the Phoenix metro area.
According to CEO Greg Vogel, Weinstein & Harris has unparalleled experience in the local market and an elite clientele. "Increasingly, we believe the path to better serve clients will be based on focused industry expertise, strengthening our positioning the marketplace as the leader in land brokerage and broadening our service for clients," said Vogel in a release.
On its website, Weinstein & Harris lists Shea Homes, Lennar, Standard Pacific, and Pulte among its clients as well as privates including Trend Homes, Woodside Homes, Richmond American Homes and Hacienda Builders and a variety of developers, investors, lending institutions and local land owners.
Established in 2004 by Howard Weinstein and Derek Harris, the brokerage has negotiated and closed hundreds of millions of dollars in real estate deals across the Phoenix metro area, including the recent transaction in which Communities Southwest bought 900 lots in Pinal county from Standard Pacific for nearly $21 million.
Co-founders Weinstein and Harris will now lead the Land Advisors' Homebuilder Specialty Group in partnership with Michael Chasse, who currently heads up that specialty. "The current economic climate is creating stress in the real estate market and driving demand for restructuring and strategic counsel from even the strongest players," said Weinstein. "With its access to capital markets, strong relationships with strategic investors and expertise in complex land brokerage, [Weinstein & Harris] expands our capacity and capabilities."