The Real Deal Miami

Greg Norman obtains $15M loan for Boca mansion

Legendary golfer plans to complete mammoth home on property he is trying to sell
July 08, 2014 02:15PM

Greg Norman

Greg Norman

Golfing legend Greg Norman doesn’t like leaving things unfinished, which is why he is moving forward with his enormous Boca Raton mansion thanks to a $15 million loan he obtained.

The generous equity credit line put forth by Deutsche Bank will allow Norman to complete the elaborate 28,000-square foot home with seven bedrooms and 19 bathrooms. Norman has the Le Lac property listed at $25 million, according to Gossip Extra, after failing to sell the 7.5 acres minus the original house he razed following his divorce to Chris Evert.

The golfer known as “The Shark” purchased the property in 2006 for $7 million in order to be closer to Evert, who lived in Boca Raton and ran the Evert Tennis Academy. After the marriage went south, he was willing to take a loss on the sale of the land but could not find a buyer, which led him to revisit building a home on the property.

The mansion is expected to be finished and ready for a new buyer by the end of 2015. [Gossip Extra] — Andy Kent