The Real Deal Miami

Sunrise homebuilder pays $21M for Homestead land

Developer Craig Perry borrowed $11.4M to finance the purchase

Homestead Inset: Craig Perry

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.