The Real Deal Miami

Final piece of Wellington Preserve sells

Total sales price for all 500 acres tops $55M

November 17, 2014 05:15PM

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A view of a portion of Wellington Preserve.

A view of a portion of Wellington Preserve.

The last 15 acres of the Wellington Preserve project were sold Friday for $2.27 million to Diamante Farms Dressage, the Palm Beach Post reported.

The deal finalizes a major 500-acre selloff meant to compensate investors in the bankrupt CL Financial Group, the publication said. It has taken about four years to complete sales, mostly to equestrian businesses, like Zacara Farm, a polo site team site, which bought 100 acres in 2011. The total tally for all 500 acres stands at $55.9 million.

Diane Jenkins, owner of Jenkins Realty in Palm Beach Gardens, handled the sales, advertising in equestrian magazines and marketing to horse property owners. [Palm Beach Post] – Jennifer White Karp