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04/04/09
SunCor will sell housing projects
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:23 pm

Pinnacle West Capital Corp.’s real-estate subsidiary, SunCor Development Co., will attempt to sell $400 million in housing developments and golf courses - most of them in Arizona - to reduce debt and focus on commercial building, the company announced Thursday. Arizona Public Service Co. is Pinnacle’s main subsidiary, but the smaller SunCor business has been a drag on earnings recently.  more…

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