CC Homes, led by Armando Codina and Jim Carr, has sold a 160-acre development site in Sunrise, Florida for $164.5 million. The property, located at 7400 Northwest 24th Place, was purchased by New York-based DW Partners, which serves as a land bank for Lennar. Records show that CC Homes and its partner Ronald DiGasbarro acquired the former golf course site for $12.3 million.
The planned project on the site is called Solterra and includes about 400 single-family homes with the remainder being townhomes, some of which will be affordable units. The development has been under consideration since at least 2021 when CC Homes secured an agreement with the city to form the Solterra Community Development District (CDD). CDDs are commonly used in Florida to finance infrastructure such as roads and sewer systems; after residential complexes are sold out, homeowners are responsible for repaying CDD bonds.
Under the terms of the deal, DW Partners and Lennar have signed a purchase option agreement allowing Lennar to buy the site before 2031. CC Homes will also receive a portion of proceeds from each future home sale.
Lennar is recognized as one of the largest homebuilders in both south Miami-Dade County and nationally. The company often relies on land banks like DW Partners to hold properties until it is ready to begin construction, enabling Lennar to avoid carrying undeveloped land on its financial statements.
In related transactions last month near Pompano Beach, Millrose Properties of Florida—another Lennar-affiliated land bank—paid $50 million for a 20-acre site planned for over 400 condos and townhomes within The Pomp mixed-use project. Also in December, DW Partners bought more than 400 homesites in Homestead’s Keys Gate subdivision from JEN Partners, another land bank associated with Lennar.
Codina and Carr established CC Homes in 2007. Codina also leads Coral Gables-based Codina Partners with his daughter Ana-Marie Codina Barlick.
