Investor Backs Ladera

As expected, Santa Margarita Co. has teamed up with an Arizona investor in a joint venture to develop its 4,000-acre Ladera planned community.

Under the arrangement announced Tuesday, Santa Margarita’s Ladera Development Co. will serve as managing partner, overseeing day-to-day planning and development. Phoenix-based DMB Associates will provide the financial backing for the project.

Plans for Ladera call for up to 8,100 homes, plus commercial and retail development, on about 2,400 acres south of Rancho Santa Margarita.

The project is the fourth planned development on the giant Rancho Mission Viejo. Anthony Moiso, president of Santa Margarita Co., is a member of the family that owns the land. The new venture will operate under the name DMB Ladera LLC.

Financial terms were not disclosed.