Sunrise homebuilder pays $21M for Homestead land

Developer Craig Perry borrowed $11.4M to finance the purchase

Miami /
Aug.August 29, 2017 12:45 PM

More home development in Homestead is in the pipeline.

An affiliate of Sunrise-based Centerline Capital Advisors, led by Craig Perry, just paid $21.3 million for an assemblage of lots for single-family homes in Homestead, property records show. Centerline also secured a $7 million loan from Weston-based Florida Community Bank and a nearly $4.4 million loan from NVR Inc., and arm of the Virginia-based homebuilder Ryan Homes.

SW 112 Investments, led by Barry M. Brant, sold land on the west side of Florida’s Turnpike and south of Silver Palm Drive. The deed transfer of ownership includes 480 parcels, which breaks down to about $44,375 per lot.

Perry founded Centerline Homes in 1993 and sold it 20 years later to national homebuilder Standard Pacific, according to its website. He founded Centerline Capital Advisors in 2013.

Homebuilders have been flocking to Homestead, where land is still available. Last month, Miami-based Lennar Corp. purchased more than 77 acres of land for $10.75 million. 360 Builders is also developing Tropical Villas, a community of 64 single-family homes at 201 Northeast 18th Avenue. Asking prices there range from $328,900 to $388,900.

Earlier this summer, Homestead developer Manuel Diaz proposed pushing the Miami-Dade Urban Development Boundary by 113.5 acres.


Related Articles

arrow_forward_ios
Wharton Realty buys Homestead shopping center for $82M
Wharton Realty buys Homestead shopping center for $82M
Wharton Realty buys Homestead shopping center for $82M
Kolter buys 41-acre site in Homestead for $17M
Kolter buys 41-acre site in Homestead for $17M
Kolter buys 41-acre site in Homestead for $17M
From left: 1840 South Ocean Boulevard, 1341 South Ocean Boulevard and 2000 South Ocean Boulevard
These were South Florida’s largest resi sales of 2021
These were South Florida’s largest resi sales of 2021
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
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
Michael Stern accused of “duping investors” in Monad Terrace project
Michael Stern accused of “duping investors” in Monad Terrace project
Michael Stern accused of “duping investors” in Monad Terrace project
PE firms LarrainVial, DaGrosa Capital invest in Miami real estate companies
PE firms LarrainVial, DaGrosa Capital invest in Miami real estate companies
PE firms LarrainVial, DaGrosa Capital invest in Miami real estate companies
arrow_forward_ios

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

Loading...