Back in the heyday (2005ish), Saguaro Ranch, an ultra-luxe community on Tucson’s Northwest side, was a sure bet for the next big thing. But instead it all came tumbling down in 2011 when SR went to bankruptcy. However, from what I saw, Saguaro Ranch, had it succeeded, would have been a pretty fantastic place. I wrote about it HERE HERE and HERE.
That was SR, Part l.
SR, Part ll
And facing an uncertain future since then, Saguaro Ranch was taken over by Northlight Financial LLC (“Northlight”), a manager of private equity debt and real estate assets.
And Northlight LLC is apparently anxious to make good on their investment as witnessed by the latest PR spin piece, ah, news article, from the respected Fort Mills Times extolling the virtues, real and imagined, of Saguaro Ranch.
Saguaro Ranch Added to the Northlight Financial Resort Property Portfolio
Surrounded by the Tortolita Mountains and nestled within the vibrant town of Marana north of Tucson, Saguaro Ranch is one of few new communities in the area that have enjoyed the rush of second home and retiree buyers that continue to call this area home. This area of Arizona enjoys the best of the Sonoran Desert along with world-class shopping, an international airport, a university, and numerous cultural events within minutes of Saguaro Ranch’s main entry gatehouse. (within minutes, sure, my chopper or yours. If you can make it from SR to world class shopping or the UofA , the Tucson airport, or anything that could reasonably be called a cultural event, within minutes, I’ll eat your Sombrero)
And it goes on - one of few new communities in the area that have enjoyed the rush of second home and retiree buyers,
Oh really,
Let’s see, there was a sale in Feb 2011 for $1,250,000 (from a $1,950,000 list price starting in 2010. And a sale in March 2011 (a foreclosure) for $2,100,000, which started out in Feb 2010 at $5,475,000. Oh, and in 2010, there was a fire sale for $190,000 for 4.5 prime acres with a teardown (uninhabitable) house on it. And that’s it.
Currently there’s just one home for sale and it’s owned by the Sally Gerber Phinny living trust, the beneficiaries of whom are likely to be the Phinny’s (of Gerber Baby Food fame) whose brainchild was Saguaro Ranch. While others are rushing in, they’re bailing out.
see thefoothillsToday.com
to find your Catalina Foothills home