Lennar buys 77 acres in Homestead for $10.75M

The development site was approved for single-family home development

TRD MIAMI /
Jul.July 11, 2017 01:00 PM

Miami-based Lennar Corp. purchased more than 77 acres of land in Homestead for $10.75 million, property records show.

The prominent homebuilder in South Florida picked up four parcels of land bundled together along Southwest 152 Avenue and Mowry Drive, just west of the Ronald Reagan Turnpike. The sale breaks down to $3.19 per square foot.

Records show Treo Kingman, led by Otto Boudet-Murias, Rolando Delgado, Eduardo J. Garcia and Carlos A. Ortega of the Treo Group in Miami, sold the parcels of farmland. The Treo Group first bought the properties in 2013 for a total of $3.78 million.

Treo Group was formed as a partnership between American Realty Capital and TREO Partners, and focuses on “opportunistic” acquisitions in the Southeastern U.S., according to its website. Some of its South Florida projects includes a 100,000-square-foot development site in South Miami for which it paid $13 million last year.

Records show the Homestead development site was previously approved for single-family home development. Lennar could be bringing smart homes to the site. The company announced last month it’s partnering with Amazon to bring Alexa, Amazon’s smart personal assistant, into its homes’ designs.

Some of Lennar Corp.’s recent purchases in South Florida include acquiring 400 acres for its Parkland Bay project in Broward in April, and acquiring 100 acres near the site of the planned American Dream Miami mega mall for $51 million in Hialeah in December.


Related Articles

arrow_forward_ios
27359 South Dixie Highway and Longpoint Realty Managing and Founding Partner Dwight Angelini (Google Maps)

Longpoint buys Fresco Y Mas-anchored center in Naranja

Longpoint buys Fresco Y Mas-anchored center in Naranja
Lennar's Stuart Miller

Homestead homeowners association sues Lennar, alleges shoddy construction

Homestead homeowners association sues Lennar, alleges shoddy construction
Johan Andreassen and Bjorn-Vegard Lovik with the facility

Homestead salmon farm reels in $210M construction loan

Homestead salmon farm reels in $210M construction loan
1515 West 22nd Street, Julian Johnston, Esther Percal (Credit: Google Maps)

Stuart Miller’s son buys home on Sunset Islands

Stuart Miller’s son buys home on Sunset Islands
Stuart Miller, Wynwood Green

Lennar scores $45M construction loan for Wynwood apartment project

Lennar scores $45M construction loan for Wynwood apartment project
Barry Sternlicht and the Villa Biscayne Apartments (Credit: Highmark Residential/VHT Studios)

Starwood snags Homestead apartment complex for $28M

Starwood snags Homestead apartment complex for $28M
MMG Equity Gabriel Navarro and 3338 Northeast 7th Street (Credit: Google Maps)

MMG Equity Partners sells Homestead shopping center for $23M

MMG Equity Partners sells Homestead shopping center for $23M
Homestead school and Achikam Yogev

Aspira sells third South Florida charter school

Aspira sells third South Florida charter school
arrow_forward_ios

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

Loading...