Pulte Homes is expanding its footprint. 

The homebuilder bought  a 133-acre property in Maricopa for $10.6 million,  Kidder Mathews announced. 

The property,  El Rancho Santa Rosa, is expected to help Pulte "expand" its presence in the area, the announcement said. 

Kidder Mathews represented the seller, Investment Grade Loans Inc., in the deal.

"This sale shows the confidence homebuilders have in the Phoenix MSA," said Brian Rosella of Kidder Mathews. "The continued demand for new homes in the region is a positive indicator for the market and reflects a trend of sustained growth."

The deal marks the largest homebuilder purchase in the Maricopa submarket in the past 18 months, the announcement said.