Insurance mogul Ivan Herrera’s family office acquired a Miami apartment building for $71.5 million that was developed by the late Sergio Pino.
The sale of 850 Living, an eight-story multifamily project with 230 units at 811 Northwest 43rd Avenue, resolves the disposition of another key property among Pino’s numerous assets that his widow, Tatiana Pino, and her brother-in-law, Carlos Pino, are battling over in Miami-Dade family probate court. Separately, a lender filed a foreclosure lawsuit in November, alleging 850 Living’s ownership entity defaulted on a $45.4 million mortgage debt.
Sale proceeds will pay off the lender, Lument, and the remainder will go to Pino’s estate.
On July 16 of last year, Pino died from a self-inflicted gunshot wound as federal agents were serving a warrant to arrest him for orchestrating a murder-for-hire plot against Tatiana Pino.
“Working with the estate’s curator to get [850 Living] sold was the right thing to do,” said Glen Waldman, Tatiana Pino’s lawyer. “We are pleased with the outcome.”
Carlos Pino’s attorney Sergio Mendez and representatives for the buyer, an affiliate of Herrera’s Unicapital Asset Management Group, declined to comment.
Nancy Pastor, trustee for 850 Living’s ownership entity who brokered the sale, also declined to comment. Pastor was reportedly dating Sergio Pino, who founded Century Homebuilders Group, one of the largest Hispanic-owned national home development firms.
This month, Century Homebuilders, now led by Tatiana Pino, sold three development sites in southwest Miami-Dade County for $25 million to national homebuilder Lennar in a deal that was approved by Miami-Dade Circuit Court Judge Yvonne Colodny, who is presiding over the estate case.
In August, Colodny appointed Coral Gables-based certified public accountant Philip Schecter as curator of Pino’s estate after Carlos Pino filed motions to be appointed as personal representative of his late brother’s assets.
Tatiana Pino contested her brother-in-law’s motion, but both sides agreed to have an independent curator catalog and appraise Pino’s assets, as well as defend against any lawsuits and handle any taxes owed by the estate, court records show. Funds are being held in a trust until the dispute between Tatiana Pino and Carlos Pino is resolved.
On March 12, Colodny approved Schecter’s motion allowing Pastor to sell the apartment building to Herrera’s Unicapital. In January, Herrera launched the family office when he partially sold Univista Insurance for $700 million.
In 2021, an entity managed by Herrera, his wife Ania Herrera and Univista COO Luis Castro, paid $47.5 million for a two-tower office complex at 850 Northwest 42nd Avenue (also known as Le Jeune Road). Those buildings, as well as 850 Living and a parking garage connecting both projects were developed by Pino and partner Pactia USA.
850 Living’s ownership entity and the Univista entity filed dueling civil lawsuits in 2023 over use of the garage, but both complaints were dismissed last year, court records show.
