The Real Deal Miami

NY firm gets undeveloped land in Homestead

Sutherland Asset acquires nearly 21 acres through foreclosure auction

November 24, 2014 12:00PM

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Google Maps view of Homestead site acquired by Sutherland Asset Management

Google Maps view of Homestead site acquired by Sutherland

A company tied to New York-based Sutherland Asset Management took ownership of a large chunk of undeveloped land in Homestead through a foreclosure auction.

With just a minimum bid during last week’s auction, Sutherland Asset I LLC acquired two sites totaling nearly 21 acres, according to Miami-Dade County records. It previously purchased two foreclosure judgments totaling about $18.6 million from BankUnited. JJL Investments LLC and Bay Plaza of North Bay Village Corp. were hit with the judgments in August 2013.

Sutherland’s acquisition includes a former mobile home park at 503 South Krome Avenue and nearby agricultural land east of U.S. 1. — Eric Kalis

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