Homebuilder D.R. Horton (NYSE: DHI) scooped up 269 acres of state trust land in northeast Phoenix this week, bidding $79 million for the parcel in a recent public auction, the Arizona State Land Department announced Wednesday.
The land is near Desert Ridge Marketplace in northeast Phoenix, east of 56th Street and north of Deer Valley Parkway. The land's total appraised value was $54 million, according to the land department.
The sale included 269 acres, as well as 36 acres of right of way for public…
