Auto trader pays $5.4M for Homestead Ford dealership

Miami /
Apr.April 25, 2016 12:45 PM

Lorenzo Llerena, a Weston investor and former co-owner of a Chevrolet dealership in South Miami, just paid $5.4 million for a Homestead Ford franchise.

Llerena, operating through his company Lorenzo Enterprises Corp., bought the 21,908-square-foot dealership through a deal that closed last week.

The deed included four parcels: the dealership itself at 1145 North Homestead Boulevard, which was built in 1965 on just under 4 acres, plus about 3.5 acres of parking lots surrounding the building. He financed his company’s purchase with a $4.59 million loan from Ally Bank, which has a final payment due on May 1, 2023.

Llerena bought the property from former owners William J. Armstrong and Valerie P. Seivwright, who themselves paid $5.5 million for the dealership in 2012.

Before this deal, Llerena was the co-owner of Lorenzo-Bomnin Chevrolet, a car dealership at 8455 South Dixie Highway near Dadeland Mall. According to his LinkedIn page, he was an owner there for five years until parting ways with partner Arnaldo Bomnin.


Related Articles

arrow_forward_ios
Deepak Khosa and the apartment complex (Cushman & Wakefield, Khosa)
Deepak Khosa nabs Homestead apartment complex for $11M
Deepak Khosa nabs Homestead apartment complex for $11M
503 South Krome Avenue in Homestead and Armando Bravo (Google Maps)
Developer buys OZ land in bet on Homestead as “future” of real estate
Developer buys OZ land in bet on Homestead as “future” of real estate
Oak Street Capital buys another South Florida Walgreens
Oak Street Capital buys another South Florida Walgreens
Oak Street Capital buys another South Florida Walgreens
Opportunity Zone fund proposes Bitcoin mining project near Homestead speedway
Opportunity Zone fund proposes Bitcoin mining project near Homestead speedway
Opportunity Zone fund proposes Bitcoin mining project near Homestead speedway
Stuart Miller, Executive Chairman of Lennar (Getty, University of Miami)
Lennar picks up 27 acres in Homestead for $7M
Lennar picks up 27 acres in Homestead for $7M
Lennar’s Stuart Miller and 28600 Southwest 132nd Avenue (Google Maps, Lennar)
Lennar sells former trailer park site in Homestead at a loss and buys Broward land
Lennar sells former trailer park site in Homestead at a loss and buys Broward land
Five bidders vie to redevelop Homestead’s old city hall site
Bidders vie to redevelop Homestead’s old city hall site
Bidders vie to redevelop Homestead’s old city hall site
MG3 Group executives (from top) Marcelo Saiegh, Hernan Leonoff and Gustavo Bogomolni with Everglades Preparatory Academy and Avant Garde Academy (MG3 Group)
MG3 Group sells Florida charter school portfolio for $242M
MG3 Group sells Florida charter school portfolio for $242M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...