PHOENIX-Hovnanian Enterprises Inc. of New Jersey has closed a$31.47-million deal to purchase 490 home lots in the Phoenixmetropolitan area. The completed and partially developed home lotsare located in the Crossriver neighborhood near 121st Avenue andWilliams Drive in the northeast side of Sun City and the RockSprings neighborhood near 75th Avenue and Jomax Road in northPeoria.

Courtland Homes sold the land to Hovnanian Enterprises.Scottsdale-based Nathan & Associates Inc. brokered the deal.For the full story, go to Phoenix Business Journal .

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