PHOENIX (Aug. 6, 2001) - Pivotal Group today announced that five homebuilders have purchased nearly 70 percent of the first phase of WestWing Mountain, a 1,312-acre upscale master-planned community located north of Happy Valley Road and west of 83rd Avenue in Peoria, Ariz.

The $47 million transaction represents 748 of the 1,109 lots that comprise the first phase of the upscale residential project. The master-planned development is zoned for 2,150 lots, approximately 1.76 units per acre, which is less than half the density currently allowed by the Peoria Comprehensive Master Plan. WestWing Mountain also includes some light commercial and resort development.

The homebuilders at WestWing are Camelot Homes, Coventry, Engle Homes, Pulte Homes and Standard Pacific. Homes will be priced from $160,000 to $425,000 and range in size from 1,650 to 4,250 square feet.

WestWing Mountain's focus on quality neighborhoods is evidenced by its 20-acre community park, several neighborhood parks and other amenities, such as schools, a community center and hiking trails, explained Jahm Najafi, COO of Pivotal Group.

"WestWing is a low-density community with extensive open space, trail systems and mountain preserve areas," Najafi said. "Through our open house meetings with area residents and our ongoing communications with officials at the City of Peoria, we've created the kind of master-planned development that local residents and home buyers desire."

"The demand for quality residential development in the Peoria marketplace is tremendous," said Mark Hancock, owner and president of Camelot Homes, a native Arizona builder of custom and upscale homes. "We want to be a part of that growth. We've chosen WestWing Mountain to enter the market because of its well-designed master plan and sensitivity to the environment, qualities we feel are important to meeting the needs of our clients."

Nathan & Associates, Inc. and Arizona Land Advisors, both based in Scottsdale, are the brokers on this group of transactions.

More than $27 million in infrastructure work, including streets and utilities, will commence in September. Homebuilders are expected to break ground on models in the
first quarter 2002, with sales starting as early as the second quarter 2002.

The land planner for the development is Vernon Swaback Associates, a Scottsdale-based multi-disciplinary firm specializing in land planning, architecture and community visioning.

Pivotal Group, based in Phoenix, is a diversified real estate company dedicated to the quality development of residential, resort and large-scale master-planned communities in Arizona and the Southwest. Widely recognized for its ability to combine dynamic planning with a variety of financing approaches, the firm is currently involved in nearly $1 billion in developments.

For more information about Pivotal Private Equity, visit www.pivotalgroup.com