Arizona Home Builder Taylor Morrison To Buy Coastal O.c. Land

Marblehead development in San Clemente

The prize, however, went to a joint venture between Taylor Morrison and two of its large shareholders: Oaktree Capital Management and TPG. The builder, based in Scottsdale, Ariz., said the deal was expected to close this month. Not included is land for a Marblehead outlet center, which is under construction. The large, publicly traded builder plans 308 Spanish-style homes across four neighborhoods. Prices for the luxury single-family houses have yet to be determined, Taylor Morrison said. The project, in which developers once envisioned 2,000 homes, skidded to a halt after financier Lehman Bros. collapsed in 2008.
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