Lennar Homes paid nearly $25 million for a portfolio of three Century Homebuilders Group residential development sites in south Miami-Dade County.
A land bank tied to Miami-based Lennar acquired the Portobello Estates, Century Park Villas East and Century Estates Royal subdivisions for $24.8 million, according to property records and real estate database Vizzda. The land totals about 25 acres.
Tatiana Pino took over Coral Gables-based Century Homebuilders Group last year after her estranged husband, Sergio Pino, died by suicide. Pino shot himself in his waterfront Cocoplum home as the FBI was about to arrest him in an alleged murder-for-hire investigation of Tatiana Pino.
As part of the sale to Lennar, Century Homebuilders will receive a portion of the proceeds of the home sites when Lennar sells them, according to Vizzda.
Portobello Estates is a 9.4-acre plot of land at Southeast 18th Avenue and the Florida Turnpike Extension that sold for $7 million. Century Homebuilders paid $5.5 million for the property last summer, before Sergio Pino’s death, records show. Fifty-four single-family homes were proposed.
Century Park Villas East, an 8.5-acre property where 117 townhouses have been proposed, sold for $11.3 million. Century Homebuilders paid $5.5 million for the land in 2022, records show. 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 site is zoned for three single-family homes and 54 residential units in 27 duplex buildings, according to Vizzda.
Federal investigators said that Pino orchestrated at least two plots to try to have Tatiana Pino killed because she wanted half of their life estate, valued at up to $360 million during their divorce proceedings.
After his death, his brother, Carlos Pino, levied a court fight for a stake in the company. Carlos Pino filed a petition to expedite a non-jury trial in the case. A hearing is set for early next month, court filings show.
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