Florida-based Dream Finders Homes Inc. (NYSE: DFH), which made its Arizona debut this summer, has just completed the purchase of additional properties.

The national homebuilder recently paid $13.84 million in cash to a New Jersey company called Hovnanian Enterprises Inc. for 123 finished lots in the city of Maricopa, according to Tempe-based real estate database Vizzda LLC. Dream Finders ranked No. 12 in Pro Builder’s latest Housing Giants rankings of the nation’s largest homebuilders with revenues of more than $3.7 billion in 2023.

Nate Nathan and his son Max Nathan of Scottsdale-based Nathan and Associates Inc. negotiated the transaction, which closed July 31 for $112,500 per lot.

“With the City of Maricopa purchasing over 1,000 acres of land on the south side of Casa Grande Highway for new jobs, Maricopa will become an emerging hotspot for new jobs,” said Nate Nathan, president and designated broker of Nathan and Associates.

Hovnanian officials declined to comment on the sale.

This story was published in partnership with the Phoenix Business Journal. Click here to read the full story.