Lennar land bank picks up 20 acres near Pompano Beach casino for $50M
A Lennar land bank paid $50 million for a 20-acre development site near Harrah’s Pompano Beach casino in Broward County. Millrose Properties of Florida, a publicly-traded Lennar spinoff, acquired the parcel at 777 Isle of Capri Circle within The Pomp, a 223-acre mixed-use development in Pompano Beach, records show. The city of Pompano Beach approved a residential community with 426 condos and townhomes earlier this year, planned by Miami-based Lennar, led by co-CEOs Jon Jaffe and Stuart Miller. The Pomp’s master developer, a joint venture between Baltimore-based Cordish Companies and Las Vegas-based Caesars Entertainment, sold the 20 acres to Millrose. […]This article originally appeared on The Real Deal. Click here to read the full story.
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