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