The Real Deal Miami

Sugar tycoon lands sweet $43M loan for Miramar site

LLC tied to Fanjuls' Florida Crystals paid $10.56M for the property in 2013
Miramar land off of Flamingo Road and the Florida Turnpike

Miramar land off of Flamingo Road and the Florida Turnpike

An LLC led by Jose F. Fanjul Jr. obtained a $42.7 million mortgage for vacant land in Miramar, according to Broward County records.

PNC Bank granted the loan to FC Miramar Phase I, which lists Fanjul, Erik Blomqvist, Oscar R. Hernandez, Juan Porro and others on its corporate filings.

The Fanjul Corporation, a sugar and real estate conglomerate, owns subsidiaries Florida Crystals and Domino Foods, among others. 

The LLC paid $10.56 million for the property, off of Flamingo Road and the Homestead Extension of the Florida Turnpike, in December 2013, according to Broward County property records. Florida Crystals owns tens of thousands of acres of sugar cane in the middle of the “flow-way” plan to connect Lake Okeechobee and the Everglades.

The 54-acre site is zoned for agriculture, including cattle and nursery designations.