I always like to check-in on the doings of our local developers. In February Sergio Pino was getting a mortgage from U.S. Century Bank - the same bank that he is a Board Member. The end of March he sold his condo at Club Atlantis in Miami Beach. He got market value.
Ed Easton was modifying a Krome Grove Land Trust mortgage (3 original notes were $1,935,606.88) in December. The original notes were made in favor of the Mortgagee Lennar Homes, Inc. (now known as Lennar Homes, LLC). Anyway, Easton is the Mortgagor (signing for the Land Trust) and also signing as the Mortgagee (hard to figure out these transactions). This property is part of the development of Regional Impact (DRI), Parkland. The entire property was purchased for $64,895,670 in October 2004. Lucky it is classified as AG land. The large parcel, 590 acres, only was taxed at $27,069 ($45,000 exemption) - a bargain. Easton got the property from Lunsford Richardson, Jr. -- the Vicks VapoRub heir?
This month Armando Guerra foreclosed on a parcel of land, lot 9 of Eureka Ranches (SW 188 Street and SW 185 Court, Homestead) for $476,295.48. The land was purchased from Guerra (as a trustee for a group of investors) for $838,000 in March, 2005.
1 comment:
hmmm....looks like reshuffling except for the Homestead transaction--wonder why he had to actually foreclose.
anyway, thanks as always for yeoman service.
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