SWVP/Pollack Partnership Buys 172 Acres Within Monte Verde Community

December 17, 2008

Phoenix, AZ – A company formed by Phoenix Suns managing partner Robert Sarver and investor Elliott Pollack of Scottsdale purchased a 172-acre parcel within the Monte Verde planned community at the southwest corner of Lower Buckeye and Miller roads in Buckeye. The seller was Shea Homes Limited Partnership in Scottsdale (Buddy Satterfield, pres.).

Three parcels targeted for commercial use total 38.4 acres. The remainder of the land is platted and engineered for 408 single-family residences. Of the home sites, 94 average 6,320 sq. ft. (53×120), 111 average 7,250 sq. ft. (58×125), 99 average 7,875 sq. ft. (63×125) and 104 average 8,750 sq. ft. (70×125). The property has off-site sewer lines in place. The buyer intends to hold the land for investment and will look to resell the acreage once the housing market rebounds.