D.R. Horton Homebuilder Buys More Land in Growing City South of Phoenix

Article originally posted on Phoenix Business Journal on February 23, 2024

Texas builder D.R. Horton Inc. (NYSE: DHI) bought 111 acres from Scottsdale-based Walton Global with plans to build 456 homes within Elena Trails in the city of Maricopa.

The transaction to acquire the land was complex. First, according to Tempe-based Vizzda LLC real estate database, Walton Global Holdings paid $8.7 million in cash in mid-December to HBE Farms LLC, an entity tracing to Rudolph Ramsey Echeverria for 111.3 acres at the southeast corner of Murphy and Farrell roads in Maricopa.

Then D.R. Horton and Walton Global Holdings entered into an option agreement for the property, according to Vizzda. D.R. Horton, headquartered in Arlington, Texas, exercised the first phase last month.

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