Lennar recently sold 28 lots in Parkland, Fla. to CC Homes, a joint venture between Armando Codina and James Carr, reports South Florida Business Journal's Brian Bandell.
The subsidiary of Miami-based Lennar Corp. (NYSE: LEN) sold the property for $8.4 million to CC Homes at MiraLago LLC, an affiliate of Coral Gables-based CC Homes. Florida Community Bank provided the buyer with a $12.25 million mortgage, which consists of a $6.75 million revolving note and a $5.5 million construction loan.
Lennar has been developing the land since 2014. Before the sale, it owned 150 lots in the community.
CC Homes' project there will be called Chateaux at MiraLago, with single-family homes ranging from 3,705 to 5,281 square feet, said CC Homes Senior VP Diana Ibarria.