PROJECTS

Travis USD Land Exchange



Land Owners

Travis Unified School District
Meritage Homes, Inc.
Papin Family

Size:

11.5 Acres District Exchange Land
30 Acres District Acquisition

Real Estate Advisor

Terra Realty Advisors, Inc.

Year:

2006

Financing:

Exchange & Cash

Exchange Value:

$8,000,000

Comments:

Terra Realty Advisors, Inc. structured a three party exchange agreement on behalf of our client: the Travis Unified School District, with a national home builder and local land owner for a new school site in the Southtown Masterplan area of Vacaville, CA. Utilizing two surplus school sites, we completed this complicated land trade which involved I.R.C 1033 “friendly” condemnation proceedings, while resolving underlying legal and title issues impacting all the properties. The total approved number of lots created on the District Exchange Land was forty five, which were subsequently built and sold by Meritage Homes.