The Real Deal Miami

Homestead shopping center sold for $4.3M

Property's $5.8M mortgage was foreclosed in 2011
December 29, 2014 12:00PM

A Sedano's supermarket

A Sedano’s supermarket

A foreclosed Homestead shopping center was reportedly sold for $4.3 million to a company managed by the CEO of Sedano’s Supermarket.

An affiliate of Florida Community Bank sold the property at 1982 North Eighth Street at a 27 percent discount to the foreclosed mortgage, according to published reports. 

The buyer, 1982 Campbell Holdings, is managed by On-Time Construction Corp. On-Time’s president, Augustin Herran, also runs the South Florida supermarket chain, the South Florida Business Journal reported.

Great Florida Bank, which was acquired by Florida Community Bank in January, foreclosed the $5.8 million mortgage of Campbell Blue East in 2011. [South Florida Business Journal]William J. Gorta