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Real Estate

June 16, 1989|Michael Flagg, Times staff writer

Centennial Group Inc., an Orange developer and home builder, said it recently sold about $6.6 million worth of real estate. Analysts and observers said the public company may be selling property faster than it would like to dress up its bottom line.

The company said its Centennial Estates Inc. unit sold 329 residential lots in Lancaster for $5.9 million to Griffin Homes, for a profit of about $1.1 million.

The company also sold 1.6 acres on Business Center Drive in San Bernardino to Robert and Barbara Henley for $689,000 and said it expects a profit of about $475,000 on the land, which the company bought in 1979.

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