Late developer Sergio Pino’s Miami condominium constructing faces $45M foreclosures
Lennar Properties paid practically $25 million for a portfolio of three Century Homebuilders Group residential improvement websites in south Miami-Dade County.
A land financial institution tied to Miami-based Lennar acquired the Portobello Estates, Century Park Villas East and Century Estates Royal subdivisions for $24.8 million, in accordance with property data and actual property database Vizzda. The land totals about 25 acres.
Tatiana Pino took over Coral Gables-based Century Homebuilders Group final 12 months after her estranged husband, Sergio Pino, died by suicide. Pino shot himself in his waterfront Cocoplum house because the FBI was about to arrest him in an alleged murder-for-hire investigation of Tatiana Pino.
As a part of the sale to Lennar, Century Homebuilders will obtain a portion of the proceeds of the house websites when Lennar sells them, in accordance with Vizzda.
Portobello Estates is a 9.4-acre plot of land at Southeast 18th Avenue and the Florida Turnpike Extension that offered for $7 million. Century Homebuilders paid $5.5 million for the property final summer time, earlier than Sergio Pino’s loss of life, data present. Fifty-four single-family houses had been proposed.
Century Park Villas East, an 8.5-acre property the place 117 townhouses have been proposed, offered for $11.3 million. Century Homebuilders paid $5.5 million for the land in 2022, data present. It’s at Northeast First Avenue and Palm Drive in Homestead.
The third piece of the portfolio sale, Century Estates Royal, is at 192nd Avenue and Mowry Drive in Homestead. The 6.8-acre web site is zoned for 3 single-family houses and 54 residential models in 27 duplex buildings, in accordance with Vizzda.
Federal investigators mentioned that Pino orchestrated no less than two plots to attempt to have Tatiana Pino killed as a result of she needed half of their life property, valued at as much as $360 million throughout their divorce proceedings.
After his loss of life, his brother, Carlos Pino, levied a courtroom combat for a stake within the firm. Carlos Pino filed a petition to expedite a non-jury trial within the case. A listening to is about for early subsequent month, courtroom filings present.
Learn extra
Improvement
South Florida
Sergio Pino’s widow, brother at odds over Century Homebuilders
