PARADISE VALLEY, Ariz. and SCOTTSDALE, Ariz., Dec. 22, 2025 — Five Star Development (“Five Star” or the “Company”) announced today that the U.S. Bankruptcy Court for the Southern District of Texas has issued a Final Villa Sales Order confirming a clean, insurable title and full buyer protections for Villa sales at The Ritz-Carlton, Paradise Valley, The Palmeraie (the “Project”).
The Court’s Order sets up a clear, Court-approved framework for Villa closings and gives certainty to buyers, lenders, and title insurers that Villa transactions can close as scheduled, with finality, and without the risk of a later challenge.
Key Protections Under the Order
- Villa closings can take place without being interfered with by any lienholder.
- All liens, including mechanics’ liens, attach only to the net sale proceeds, and not to the Villas themselves.
- The federal “good-faith purchaser” status ensures that completed transactions cannot be undone, even if there is an appeal.
- Title insurers are authorized to issue a clean, insurable title with full confidence.
- Court-supervised escrow preserves the net proceeds.
“The Court’s Order provides buyers with the strongest protection available under federal law and removes any uncertainty from the closing process,” said Lance Miller, Chief Restructuring Officer of Five Star Development and Managing Partner of Pivot >. “It locks in a clean, insurable title and ensures that Villa closings move forward with confidence and finality while broader matters proceed under court supervision.”
Five Star Continues Advancing Villa Sales and Vision
The Order was issued in Five Star’s chapter 11 case, which was filed to deal with an ongoing lender dispute. Throughout the proceedings, Five Star has continued to operate in the normal way, maintaining full control of the Project and advancing Villa sales and closings—providing stability, continuity, and certainty for buyers, residents, and partners.
After an initial sell-out and sustained strong demand, Five Star has released a limited number of select Villas, first offered to its extensive, pre-qualified prospective buyer list under the Court-approved sales framework.
Beyond residential sales, Five Star continues to create a best-in-class experience at the Palmeraie through active engagement with leading global luxury retail brands. Homeowners and residents continue to enjoy full Ritz-Carlton-managed services and one-of-a-kind amenities, while the Company manages design coordination, contractor planning, and financing discussions in preparation for a full construction restart, subject to required Court approvals.
“Our vision has always been about creating an exceptional destination that reflects the character and beauty of Paradise Valley and Scottsdale,” said Jerry Ayoub, Principal and Founder of Five Star Development. “With this Order in place, we remain focused on executing that vision with the Ritz-Carlton-caliber quality, service, and integrity that makes this property an extraordinary place to call home.”
Villa Sales Inquiries
For more information regarding Villa availability or ownership opportunities at The Ritz-Carlton Residences, Paradise Valley, please contact Brendan Mann at.
About Five Star Development
Five Star Development is a leading commercial real estate developer with almost a five-decade track record of delivering transformative, high-value projects across the Southwest. Since 1978, the Company has developed, constructed, and managed more than 20 million square feet of residential, hospitality, retail, office, and industrial real estate, representing more than $3.5 billion in investment. Today, Five Star’s portfolio includes more than 7 million square feet of income-producing properties under active ownership and management. For more information, visit .
SOURCE Five Star Development