Developer buys Miramar site from Sunbeam billionaire, closes $51M loan

Scardina plans to open the 380-unit apartment complex next year

Feb.February 03, 2017 12:00 PM

Miramar land. Inset: Edmund Ansin (Credit: YouTube)

South Florida developer Charles Scardina Jr. purchased land in Miramar from Sunbeam Television billionaire Edmund Ansin, and closed on more than $50 million in financing for the site.

Records show Ansin, co-founder of Sunbeam who’s currently worth about $1.27 billion, sold the 47-acre property on Flamingo Road and Red Road to Luma at Miramar LLC for $12.74 million. The Scardina-led LLC also took out $51.2 million mortgage from Florida Community Bank.

Scardina plans to build a 380-unit apartment complex with one, two and three-bedroom units, according to a spokesperson for the developer. It will also have a clubhouse with a resort-style pool overlooking a lake. Luma at Miramar is slated to open by the end of the first quarter of next year, the spokesperson told The Real Deal. It’s near the Florida Turnpike and the IMT Miramar community of single-family homes.

Scardina and his partners broke ground on another Luma project in September last year. Luma at West Palm Beach is slated to open this year with 245 apartments at the southwest corner of Okeechobee Boulevard and Skees Road. Florida Community Bank also provided the financing for that project, which was a $35.6 million construction loan.

Also in Miramar, Florida Crystals’ FCI Residential recently completed the Atlantico at Miramar. The developer broke ground on the 340-unit project in 2015 with a $42.7 million loan.

Miramar, which is west of Hollywood, is also home to a handful of large South Florida employers, including Comcast, Humana and Royal Caribbean. Sunbeam owns the Miramar Park of Commerce, an office and industrial complex with more than five million square feet of office and industrial space.

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