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Lennar unit pays $40M for Miami property

Lennar Corp. unit San Simeon Lennar LLC acquired the 181.4-acre property at 20898 San Simeon Way in Miami for $40 million, the South Florida Business Journal reported.

Lennar intends to construct 296 villas, 348 townhouses and 46 single-family homes on the site in a residential community called Le Club Resort. The project will also feature an 11.3-acre community park, a clubhouse and a pool.

The seller of the former California Club golf course was the Mazel Group, according to the publication.