Curated News
By: NewsRamp Editorial Staff
July 15, 2025
Shopoff Secures $52M for Mesa's The Block at Elliot Development
TLDR
- Shopoff Realty Investments secures a $52 million financing advantage from Peachtree Group to develop The Block at Elliot, positioning it ahead in the competitive Mesa real estate market.
- The $52 million financing by Shopoff Realty Investments for The Block at Elliot will fund grading and utility improvements, marking a critical step in the project's phased development.
- The development of The Block at Elliot by Shopoff Realty Investments promises to enhance Mesa's infrastructure and community spaces, contributing to a better living environment.
- Shopoff Realty Investments' $52 million project in Mesa transforms 270 acres of undeveloped land into a future community hub, starting with grading in late 2025.
Impact - Why it Matters
This development signifies a major step forward in the expansion and modernization of Mesa, Arizona, promising economic growth and job creation. For investors and local residents alike, the project represents a significant opportunity for community development and real estate investment in a strategically important area.
Summary
Shopoff Realty Investments has successfully secured a $52 million financing deal from Peachtree Group for The Block at Elliot, a 270-acre undeveloped land project in Mesa, Arizona. This significant financial boost, facilitated by Walker & Dunlop's Mark Strauss and Rob Quarton, will enable Shopoff to proceed with grading, offsite street, and utility improvements, marking a pivotal step towards the project's development. Shopoff President and CEO William A. Shopoff expressed satisfaction with the deal, highlighting its importance in the current uncertain financial climate. The project, acquired in 2022, has already seen progress with its annexation into Mesa and approval of a mass grading plan. With a general contractor on board, grading is expected to start by late 2025, as the firm works closely with Mesa to finalize the development plan and product mix.
Shopoff Realty Investments, with a 33-year history in value-add and opportunistic real estate investing, continues to expand its portfolio through strategic projects like The Block at Elliot. For more details on their ventures, visit Shopoff Realty Investments or check out the original article on citybiz.
Source Statement
This curated news summary relied on content disributed by citybiz. Read the original source here, Shopoff Secures $52M for Mesa's The Block at Elliot Development
