Covington Sells 178 Lots to Anden Group

Covington Technologies has announced the sale of 178 lots located in Palmdale to the Anden Group of Covina for $3,026,000.

Deyo P. Breen, president and chief operating officer of the California-based building company, said the firm’s decision to sell the parcels was consistent with its program of realizing value from land development, whether through construction and sale of housing or from developed land parcels.

A gross revenue potential of $30 million is anticipated by Covington from 300 lots available for the development of single-family homes to be built out over the next two years in the Palmdale area, where its project Summerwind has been completed and sold.