A development site consisting of 24.7 acres located at East Palm Avenue, Southwest 320th Street, Southwest 312th Street, and Southwest 192nd Avenue/Tower Road has been sold for $24,780,000. The site is situated in the market area of Florida City and Homestead and is approved for the development of 117 townhomes and 108 single-family homes.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $24,780,000
• Buyer: Adam Schwartz & Josh Baumgarten - TPG Angelo Gordon c/o Lennar Corp.
• Seller: Tatiana Pino - Century Homebuilders
• Acres: 24.7
• Approved for: 117 townhomes and 108 single-family homes
• Additional payments due to seller per home sold.

The transaction involved a land bank acting on behalf of Lennar Corp., which will receive ownership of the three development sites upon home delivery. The deal highlights the collaboration between TPG Angelo Gordon and Lennar Corp. through their representatives in this transaction.