The Milligan clan sold a massive Ventura County site that has been in limbo for decades to Hearthstone for $59.4 million, according to property records and a source involved in the project. The price for the 271-acre site amounts to $219,200 per acre. The vacant nine-parcel deal for Hitch Ranch in Moorpark, a city about 50 miles northwest of Downtown Los Angeles, includes a purchase option agreement with Lennar. Hearthstone, an investor in residential development, will finance and complete the land development, and then sell the lots to homebuilders, including Comstock and Lennar, to erect 755 homes, said Debra Geiler, […]
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