A subsidiary of major homebuilder Lennar has acquired a Miami retail center for $18.3 million.
RREF II WSS Acquisitions, which is managed by Lennar subsidiary Rialto Partners, purchased the West Sunset Square center at 15725 Southwest 72nd Street, South Florida Business Journal reported. Seller Compass Bank took title to the 86,622-square-foot center through foreclosure last year. West Sunset Square was developed in 2009.
The Rialto company obtained an $8 million loan from New York-based RCC Real Estate. Tenants at West Sunset Square include Sir Pizza, Subway, Valsan and Walgreens. [South Florida Business Journal] — Eric Kalis