CC Homes, a residential development firm led by Armando Codina and Jim Carr, has sold its 160-acre site in Sunrise, Florida, for $164.5 million. The property was originally purchased for $12.3 million three years ago and is planned to be developed into Solterra, a community with about 900 homes.
The buyer is DW Partners, a New York-based company that serves as a land bank for Lennar. According to public records, CC Homes’ partner Ronald DiGasbarro was also involved in the sale. DW Partners and Lennar have entered into an agreement giving Lennar the option to purchase the site until 2031. CC Homes will receive part of the proceeds from each future home sale.
Solterra is set to include around 400 single-family homes and additional townhomes, including affordable units. The project began moving forward in 2021 when CC Homes secured a development agreement with the city of Sunrise and established the Solterra Community Development District (CDD). CDDs are commonly used by Florida developers to finance infrastructure such as roads, sewer systems, sidewalks, and stormwater management; once all homes are sold, homeowners are responsible for repaying CDD bonds.
Codina and Carr started CC Homes in 2007. Separately, Codina runs Codina Partners with his daughter Ana-Marie Codina Barlick.
Lennar Corporation is considered one of the largest homebuilders in the United States and leads new construction activity in south Miami-Dade County. It often works with land banks like DW Partners to hold properties until they are ready for development. This approach allows Lennar to avoid holding undeveloped land on its balance sheet while focusing capital on building new homes.
Recently near Pompano Beach, Millrose Properties of Florida—spun off from Lennar as its own land bank—purchased a 20-acre parcel within The Pomp mixed-use project for $50 million; it plans to build 426 condos and townhomes on that site. Last month as well, DW Partners bought 423 homesites in Homestead’s Keys Gate subdivision from JEN Partners—another Lennar-affiliated land bank—demonstrating how these entities often transfer assets among themselves during development cycles.
