Brazilian homebuilder MRV Engenharia e Participacoes SA has sold its Pine Groves and Princeton Groves projects, both located in Florida, for a total of $95 million, Trend reports with reference to Reuters.
MRV, which did not disclose the buyer, said late on Wednesday that it expects to obtain net cash proceeds of $47.4 million from the deal. The company noted it still has two projects for sale in the United States, jointly valued at about $105 million.