By Mike Sunnucks | Phoenix Business Journal
Maracay Homes — an arm of TRI Pointe Group (NYSE: TPH) — has bought 31.9 acres in Gilbert for the development of 63 new homes.
Maracay paid $4.26 million for the land near Riggs Road and 156th Street. The seller was Hari C. Puri.
Jeremy Lovejoy and Brian Stillman of Insight Land and Investments brokered the East Valley sale.
Maracay plans on developing a gated subdivision called Marathon Ranch.