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  • Moneysupermarket shares plunge as investors told not to expect growth 
    
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A 26-acre parcel in north Phoenix’s Desert Ridge development sold for a record $1.082 million an acre on Thursday. A Newport Beach, Calif.-based partnership called Westfield/Greystone paid $28.5 million for the piece of state-owned land. It’s planning to build 750 apartments on the site. The previous record price per acre for Arizona state land was set last year when Phoenix-based apartment builder Gray Development paid $33.45 million for a 32-acre site in Desert Ridge. Gray plans to build more than 800 high-end apartments and condominiums on that site. That purchase price breaks down to about $1 million an acre.  More…

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