By Phoenix Business Journal
Production homebuilder D.R. Horton Inc. will pay $245.5 million for 2,783 acres in the far East Valley as the winning bidder in Wednesday’s Arizona State Land Department auction.
With its deep pockets, Arlington, Texas-based D.R. Horton (NYSE: DHI) won a bidding war for the parcel at the southeast corner of Elliott and Meridian roads, which is in Pinal County, near Apache Junction.
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