The populous master-planned Daybreak community in South Jordan is under new ownership.
Larry H. Miller Real Estate bought more than 1,300 undeveloped acres in Daybreak, along with ownership interest in its existing and future commercial structures, from Minneapolis-based Värde Partners, the company announced Monday. The terms of the sale weren’t disclosed.
“We are proud of where the community is today, and we are looking forward to following Daybreak’s continued success under the Larry H. Miller Group’s stewardship,” Värde managing director Brendan Bosman said in a prepared statement.
Värde acquired Daybreak’s land holdings in 2016. Since then, home sales in the community increased from 450 to more than 1,000 per year, the company says. Värde was responsible for the planning and initial construction of Daybreak’s “Watercourse,” the series of interconnected channels and lakes that it says are a focal point in the community.
Larry H. Miller Real Estate’s president made reference to continued development in the community, including plans to address increased demand for housing in Salt Lake County.