Lennar sells Landmark at Doral clubhouse to homeowners association for $16M
HOA bought amenities facility, including pool, amphitheater and tennis courts
In a $15.9 million deal, Lennar sold the clubhouse property that is part of the Landmark at Doral residential community that the homebuilder developed four years ago.
The Landmark at Doral Homeowners Association bought the three-story, 14,169-square-foot building and accompanying amenities at 10220 Northwest 66th Street in Doral, according to records. The site also features a pool, two tennis courts, a splash park, an amphitheater and a parking lot.
In 2018, Miami-based Lennar completed Landmark at Doral, a development of 800 townhomes that were priced between $441,000 to $605,000, according to published reports. Lennar bought the development site for $44.7 million in 2012. The project is near Downtown Doral and CityPlace Doral, a pair of mega mixed-use projects.
A Lennar spokesperson did not respond to a request for comment.
Lennar, led by Executive Chairman Stuart Miller, kicked off 2022 in an active buying mode across South Florida, after missing its earnings mark to end the previous year. In January, the publicly traded company bought part of a closed golf course west of Delray Beach for $19.2 million and a development site in Homestead for $22.5 million.
Lennar intends to move forward with approved plans for the Delray Beach property’s previous owner, 13th Floor Homes, to build 251 townhouses and 164 single-family homes. In Homestead, Lennar acquired 25.3 acres from an entity tied to homebuilder Pedro Adrian, of Adrian Homes. Last year, Adrian’s affiliate obtained approval for a 250-townhouse project with a clubhouse, pool and playground.
Earlier this month, Lennar paid $7.4 million for 188 acres of land within the Arden community near Wellington where the homebuilder has already developed five residential communities, including The Arcadia Collection, consisting of 154 homes, and The Providence Collection, which has 149 homes.