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This Real Estate Stock Just Made a Huge Sun Belt Move

Howard Hughes (NYSE: HHC) is a developer of master-planned communities, and while it has invested heavily in its communities in recent years, the portfolio hasn't seen much geographic expansion in a few years. Howard Hughes just announced that its next master-planned community, or MPC, will be in the Phoenix metropolitan area. Here are the details of the massive land acquisition Howard Hughes just made and details on what the company has planned for the future.