Land

Plumas Lakes
Acreage: 548
Acquisition Date: Acquired an option to purchase in March 2001
Completion Date: Sold the option to purchase in January 2003
Developer: Sares Regis Group of Northern California
Civil Engineer: Morton and Pitalo

Challenge: Process a tentative map through the Country of Yuba for the subject property.

Solution: Sares Regis processed a map for 1,821 residential units and gained approval from the Yuba County Planning Commission. With direction from the investor group, Sares Regis then sold the option-to-purchase to the most qualified of five bidders. The results: A profit to the group well in excess of proforma.