Home builder DR Horton pays $6M for 20 vacant acres near Florida City

The seller, Newport Development Partners, had acquired the land at the southeast corner of Southwest 336 Street and Southwest 172 Avenue for $1.3 million in 2015

Miami /
Jun.June 30, 2018 02:20 PM

DR Horton bought 20 vacant acres just east of the Florida Keys Outlet Marketplace in Florida City.

Home builder DR Horton Inc. bought 20 acres of vacant land near Florida City for $6 million.

The seller, Newport Development Partners, had acquired the land in 2015 for $1.3 million.

The 20-acre property is at the southeast corner of Southwest 336 Street and Southwest 172 Avenue,  just east of the Florida Keys Outlet Marketplace in Florida City, near the last exit on the southern leg of Florida’s Turnpike.

Newport Development Partners, managed by Luis Armona and Alex Meruelo, owns nearby land with 208 home sites for a development called Cedar at Keys Gate.

Ralph Roca, who runs the South Florida operations of DR Horton, was unavailable for comment.

According to its website, DR Horton has 10 residential communities in Miami-Dade County, including nine in South Dade, which has the county’s largest supply of vacant land for home building. [South Florida Business Journal] – Mike Seemuth

 

Related Articles

arrow_forward_ios
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
Miami penthouse sets cryptocurrency sale record: $22.5M
Miami penthouse sets cryptocurrency sale record: $22.5M
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
(iStock)
Home prices across globe hit records, prompting worries of bubble
Home prices across globe hit records, prompting worries of bubble
Steven and Beth Millner with One Thousand Ocean (Patrick McMullan/Getty, Google Maps)
Private equity honcho pays $5M for Boca Raton condo
Private equity honcho pays $5M for Boca Raton condo
Donald R. Horton and a map of the development site (D.R. Horton)
D.R. Horton advances 211-unit townhouse project in Pembroke Pines
D.R. Horton advances 211-unit townhouse project in Pembroke Pines
arrow_forward_ios

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

Loading...