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Sumner Ranch , Riverside, CA

FACTS

BUYER

THE STORY

In 2006, Centex Homes approached Mission Pacific to land bank the last phase of its Sumner Ranch property which it had under an expiring option. Working on a tight timeline, Mission Pacific was able to successfully negotiate the transaction, take assignment of Centex's option and close on the 137 lot Eastvale property.

In 2007, pursuant to the agreement, Centex Homes acquired the property filling a hole in its business plan and earning Mission Pacific a 30% return on its investment.