ABOUT THE DEVELOPERS
In October 2021 Estrella was acquired through a joint venture including three seasoned developers — Harvard Investments, Toll Brothers, and Värde Partners.
This landmark event represents one of the most substantial acquisitions of an active master-planned community in Arizona to date, including 18,000 acres of entitled land. The new owners are committed to actively developing new infrastructure, parks, and neighborhoods that serve the needs of those wishing to live in one of America’s most successful fully-planned communities.
About Harvard Investments
Harvard Investments, Inc. is a real estate investment and development company with real estate holdings throughout the western United States. Harvard combines experience, integrity, and financial stability to create high quality, environmentally sensitive, and profitable communities. Harvard’s Canadian parent, the Hill Companies, is a privately held diversified company involved in real estate development including construction and leasing of commercial office buildings and retail properties, oil and gas production and distribution, broadcasting, surety bonding, and insurance. In 2021, The Hill Companies celebrates its 118th year of continuous family ownership and operation.
About Toll Brothers
Toll Brothers, Inc., a FORTUNE 500 Company, is the nation’s leading builder of luxury homes. The Company was founded over 50 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in 24 states, including Arizona, and operates its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology, and landscape subsidiaries.
2021 marks the 10th year Toll Brothers has been named to FORTUNE magazine’s World’s Most Admired Companies® list. Toll Brothers has also been honored as Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year by Professional Builder magazine.
About Värde Partners
Värde Partners is a leading global alternative investment firm with 28 years of experience investing in real estate. Founded in 1993, the firm has invested $80 billion since inception and manages $14 billion on behalf of a global investor base. The firm’s investments span corporate and traded credit, real estate and mortgages, private equity and direct lending. Värde employs more than 300 professionals worldwide with offices in Minneapolis, New York, London, Singapore and other cities in Asia and Europe.