Investec Real Estate Companies has sold the 12-acre residential portion of Lagunitas, a fully-entitled 25-acre mixed-use residential/office development for $10 million. Located in Carpinteria, Calif., just off the 101 Freeway, less than a mile from the ocean on 6380 Via Real, the new owner expects to commence the construction of 73 homes beginning as soon as fall 2011.