Century Homebuilders Secures $12.08M Construction Loan For New Single-Family Home Community In Miami-Dade

Century Homebuilders, owned by Sergio Pino, has secured a $12.08 million construction loan for a new single-family home community in Homestead. The development site, spanning 20 acres, is located on the southeast corner of SW 197th Avenue and SW 322nd Street. The community will consist of 40 homes ranging from 1,900 to 2,900 square feet, with prices between $627,990 and $747,990. This project aims to meet the growing demand for suburban living and remote work opportunities in the Miami-Dade area.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $12,080,000
• Lender: Banesco USA
• Landlord: Century Homebuilders - Sergio Pino
• Market: Homestead
• Acres: 20

Banesco USA acted as the lender for this construction loan. Sergio Pino, the owner of Century Homebuilders, played a crucial role in securing the loan and overseeing the development of this new single-family home community in Homestead. This project signifies the continued growth and demand for suburban living in the Miami-Dade area, providing homeowners with spacious and modern homes suitable for remote work and a desirable suburban lifestyle.