Lennar buys home development site in South Florida for $10M

Tuesday Mar 07th, 2017



Lennar Homes acquired the long-stalled Silver Palms Southwest project in southern Miami-Dade County for $10.3 million.

Madeira Investors, managed by Juan Carlos Rodriguez in St. Augustine, sold the 106 home lots at the southwest corner of Southwest 240th Street and Southwest 117th Avenue to Lennar Homes, an affiliate of Miami-based Lennar Corp. (NYSE: LEN).

The property was platted into home lots in 2007, but no construction took place as the recession set in. The property last traded for $11.69...

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