The Real Deal Miami

Doral lots transferred to Lennar

January 25, 2012 12:00PM

An affiliate of Lennar has received a note on a group of lots in the Century Grand development in Doral from companies controlled by Sergio Pino, the CEO of Century Homebuilders. The debt on the site had been purchased by Flordade, an affiliate of Century Homebuilders, in 2011 from Wells Fargo. Two years earlier, Wells Fargo foreclosed on the more than 152 acres of the site. Lennar reportedly received a 50 percent discount on the note. [SFBJ]