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Redevelopment to White Course in Doral
Feb 01, 2016

Codina and Lennar to buy, redevelop White Course in Doral

Codina and Lennar are the winning bidders in the sale of the 130-acre property, beating out developer and presidential hopeful Donald Trump, Shoma Group’s Masoud Shojaee and others. The seller is GIC, the sovereign fund of the government of Singapore, which obtained the property through bankruptcy actions. 

The sale, at an undisclosed price, is estimated by several real estate sources to be in the $100 million range.

“The property is in very high demand,” said Robert Given, vice chairman of investment sales for CBRE, which marketed the property on behalf of the seller. He declined to disclose the number of bidders, but said that more than 100 investment groups had requested investment packages.

“We were seeking a price over $100 million,” Given told TRD. At that range, it compares to such other top-dollar Miami-Dade land deals as the 2014 sale of the 1.25-acre Epic 2 in downtown Miami for $125 million; 700 Brickell, which Swire bought in 2013 for $65 million; and Lennar’s purchase of 143 acres in Miami Lakes which closed earlier this month for $74.4 million.

 

This information was obtained from The Real Deal. 

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