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| March 5, 2010
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| DAIRY FARM IN BUCKEYE SOLD FOR $13.3 MILLION . . . 621-ACRE TRACT HAD BEEN FORECLOSED
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| Buckeye – Stotz Farms Inc. in Avondale (Thomas Rosztoczy, pres.) paid $13.3 million to buy 621 acres at the southwest corner of Southern Avenue and Palo Verde Road in Buckeye. The seller was a company formed by MidFirst Bank in Oklahoma City, Okl. The sale was negotiated through Adrian Evarkiou of Sierra Real Estate Solutions in Phoenix. The buyer acquired the agricultural property with a $8.3 million loan from Farm Credit Services Southwest in Tempe. The farmland was previously owned and operated by Pylman Dairy. MidFirst Bank foreclosed on the real estate and equipment after Pylman Dairy defaulted on a loan secured by the property. The cattle were sold in a separate transaction. Sierra Consulting Group in Phoenix (Ed Burr, principal) acted as receiver for the seller. Rosztoczy will use the land to expand his dairy business. Stotz Farms now operates a dairy about a mile north of the newly acquired land. That dairy farm is located at 30005 W. Yuma Road in Buckeye. Rosztoczy also owns Arizona Machinery, a John Deere dealer with three Valley locations. Get more from Rostoczy at (623) 386-5989. Talk to Evarkiou at (602) 424-7012. |
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