Hoffman heads Watermark Communities (WCI), a $550 million-a-year company that builds golfing-centered retirement communities. One of Florida’s largest developers, he is also one of the state’s largest owners of undeveloped land. Hoffman paid $550 million for Westinghouse’s real estate arm in ’96. He also paid $32 million in ’97 for a Coral Gables yacht club that had been hammered by Hurricane Andrew; he bought the land from Gov. Jeb Bush’s ex-partner Armando Codina, a leader of the right-wing Cuban American National Foundation. Hoffman was Jeb Bush's state finance chair and headed his inaugural committee.