Harbor Custom Development Inc has announced plans to sell 20 developed, view lots at a community project in Blaine, Washington State to builder Noffke Land Holdings for US$3.8 million, which said it would be ready to break ground in January, next year.
Harbor acquired 214 acres, which included 71 developed lots, adjacent to the Semiahmoo resort at Blaine in July this year.
"We are delighted to have Noffke Land Holdings Inc. as a premier builder in the Horizon at Semiahmoo project," said Sterling Griffin, CEO of Harbor Custom Development in a statement about the new contract.
Matthew Noffke, CEO of Noffke Landholdings Inc, added: "Harbor Custom Development exemplified key visionary skills in the success for this community, captivating our attention and eagerness to partner within them in this juncture, and we’re excited to see what the future holds."
READ: Harbor Custom Development enters contract to sell 24 developed lots in Washington State for $4.8M
Closing of the deal is scheduled for mid - December this year.
Harbor is a real estate development company involved in all aspects of the land development cycle including land acquisition, entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projects in Western Washington's Puget Sound region; Sacramento, California, and Austin, Texas.
The company’s business strategy is to acquire and develop land strategically, based on an understanding of population growth patterns, entitlement restrictions, infrastructure development, and geo-economic forces.
Contact the author at giles@proactiveinevstors.com