Codina affiliate buys loan on Gables property

The site of a planned commercial development in Coral Gables has been acquired by an affiliate of developer Armando Codina, the South Florida Business Journal reported. Century Lancaster Plaza to C/Lancaster now controls the loan on the 0.8 acre lot at 250 Minorca Avenue, which had been planned as a commercial complex by Sergio Pino and partner Juan Carlos Mendez. “I can only tell you that this is all good and when built, it will be one of the most beautiful projects in the Gables,” Pino said in an email. [SFBJ]