The Elena Trails property in Maricopa, a new development expected to consist of more than 450 homes on 111 acres, is under new ownership.

Situated on the southeast corner of Murphy Road and Farrell Road in Maricopa, Elena Trails is a planned community with zoning and preliminary plat approvals already in place. All of the estimated 456 residential lots are free from floodplain constraints, which mitigates common challenges experienced in the Maricopa submarket, a press release states.

Upon completion, the Master Plan will feature prices estimated to start in the low $300s.

Walton Global, a real estate investment and land asset management company based in Scottsdale, acquired the property.

“Walton Global takes pride in the momentum our Builder Land Finance Program has achieved this year, and the Elena Trails acquisition stands as another significant milestone in the expansion of this business line,” Paul Bae, Walton Global vice president of portfolio management, stated. “While we’re ending the year on a strong note, we’re eagerly anticipating the beneficial opportunities this program will bring to investors, homebuilders and ultimately homebuyers in 2024.”

With Elena Trails in the northwest quadrant of Pinal County, residents will benefit from proximity to Highway 347 and I-10, providing accessibility to Phoenix.

Elena Trails sits nearby the recently built Tortosa Master Planned Community, which was constructed on land previously owned by Walton Global and sold to homebuilder D.R. Horton.