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