Ana-Marie Codina, Armando Codina & James Carr Secure $50M Construction Loan For 151-Acre Development Site In Davie

The asset involved in the transaction is a development site located at the northeast corner of Interstate 75 and Royal Palm Boulevard in Davie. This development site spans approximately 151 acres and will serve as the site for the Estates by Turnberry community, featuring 151 luxury homes with prices starting at $1.66 million in a supply-constrained Broward County market.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $50,000,000
• Lender: City National Bank of Florida
• Landlord: Ana-Marie Codina, Armando Codina & James Carr - CC Homes
• Loan Type: Construction
• Market: Davie
• ACRES: 151

The transaction features key individuals including Armando Codina and James Carr, who lead CC Homes. The team has initiated the construction of the Estates by Turnberry community after securing the loan, emphasizing the organization's focus on high-end single-family home developments in the region.