Three Coral Gables Properties Trade For $7M

Oct 21, 2013 No Comments by

A company led by developer and former U.S. Centry Bank director Sergio Pino has sold three commercial properties in Coral Gables to Baptist Health South Florida.

The $7.36 million deal brought the nonprofit hospital system’s Miami-Dade County property acquisitions this year to nearly $104 million.

Pino’s Century Laguna LLC sold: a 3,061-square-foot restaurant on 15,680 square feet at 4231 S. LeJeune Road; a vacant 6,125-square-foot site beside it; and a 1,696-square-foot office on 7,105 square feet at 4291 S. LeJeune Road.

Century Laguna had a $9.77 million mortgage with Doral-based U.S. Century Bank that was made when Pino was a director. However, his company still owns other pieces of property that are tied to that loan, including vacant land in Coral Gables.

The “undercapitalized” bank is seeking to resolve shareholder litigation against Pino and other former directors in order to complete its recapitalization plan.

 

Source:  SFBJ

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Industry News, Miami-Dade County Office, Miami-Dade County Retail, NA, Office, Retail
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