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Hogan Companies Complete Largest Anne Arundel Land Transaction of 2012

President and CEO, Larry Hogan announced that Hogan Companies’ Chief Operating Officer, Victor White, represented national homebuilder DR Horton in the acquisition of two Koch Development projects located in Anne Arundel County.  The first, Canterbury Village, is a 130 lot approved subdivision located in Arnold and the second, Millstone Village, is a 116 lot approved subdivision located in Severn.

Purchased as a package for just under $20 million, the two combined projects represent 2012’s largest unimproved land transaction in Anne Arundel County and the third largest in Maryland to date.  DR Horton purchased both projects fully approved and ready to record and will complete site development work themselves.

Millstone Village, located between Reece Road and Loving Road near the main gate of Fort Meade, is comprised of 97 townhouse lots and 19 single family detached lots.  DR Horton is in the final stages of sales at their nearby project, Jennifer Meadows, so they will be able to continue capitalizing on the BRAC-related growth of this area. 

Canterbury Village, in Arnold, is one of several Broadneck Peninsula projects that were on hold due to school capacity issues until the seller, Koch Development, decided to construct an eight classroom addition to Broadneck High School which allowed the project to continue through the subdivision approval process.  The project is comprised of 100 townhouse lots and 30 single family detached lots off of Jones Station Road.

“These transactions mark our firm’s second year of increased revenues and we are projecting 2012 to be our most successful year since before the market downturn” says Larry Hogan.  “While we have been completing transactions throughout the state, these two settlements show we are still well-established in our own back yard.”
 
Headquartered in Annapolis, The Hogan Companies is the leading land firm in Maryland and has been involved in the sale of more than 43,000 residential lots and more than 40,000 acres of residential, agricultural, commercial, industrial, and mixed use land throughout the Mid-Atlantic region.


CONTACT: 

Victor White
Hogan Companies
2661 Riva Road
Annapolis, MD 21401 
410.266.5100

 


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