Centerline Capital Advisors paid $6.75 million for 90 acres in south Miami-Dade County that could be redeveloped into a home community.
Sunrise, Florida-based Centerline bought the property at 17101 Southwest 200th Street for $75,000 per acre, records show. Francis Dirico of Key Largo sold the property.
The property is close to the Redlands and south of the Zoo Miami. It was previously home to a large mobile home park and is permitted for 349 mobile home units, according to a listing on LoopNet. It is currently zoned for one home per five acres.
The site last sold for $1.85 million in 1999, records show.
Centerline Capital Advisors, formed in 2014, focuses on land acquisition, development, construction, property management and financing. The company is led by President Craig Perry. In August 2018, Centerline Capital Advisors bought a development site in Parkland for $50.5 million.
Homebuilders are increasingly buying land in south Miami-Dade, as land becomes more scarce closer to the urban core. One of the country’s largest homebuilders, Miami-based Lennar, is one of the most active land acquirers in the area.
In August, the company paid $22.1 million for roughly 85 acres in Homestead, west of Southwest 152nd Avenue. The company also spent $4.5 million for 32.7 acres of farmland near Zoo Miami.