The Real Deal Miami

U.S. Century Bank sells 2.7-acre lot near Cutler Bay

Doral-based bank recently sold repossessed lot in Homestead for $10M
January 08, 2015 11:15AM

U.S Century Bank

U.S Century Bank

U.S. Century Bank recently sold another repossessed property.

US Century REH VIII sold a vacant commercial site near Cutler Bay on Dec. 30, 2014 to 106th Avenue Investments Holdings, an affiliate of Ugo Colombo’s CMC Group, according to Miami-Dade County records.

The bank seized the 2.7-acre property, located at the southeast corner of Southwest 190th Street and Southwest 106th Avenue, in 2012 after foreclosing on Nava Brothers Investments’ $3.5 million mortgage, the South Florida Business Journal reported. U.S. Century Bank financed the deal with a $1 million loan that matures in three years.

The bank recently sold a repossessed site in Homestead for $10 million. [South Florida Business Journal]Katherine Kallergis