The Real Deal Miami

Terra Group takes on Weston golf course project

Company linked to developer gets Bonaventure land from Chetrit venture
David Martin and Joseph Chetrit

David Martin and Joseph Chetrit

Terra Group appears to be the next developer to take a crack at building a large residential project on the site of the Bonaventure Country Club golf course in Weston.

The Pedro and David Martin-led company created a corporation called Terra Weston Residential and took title to a large chunk of the 36-hole golf course in a $30 million transaction recorded on Monday, according to Broward County records. It is unclear from the deed exactly how much of the more than 230-acre site changed hands in Monday’s deal. Terra Weston obtained a $41 million mortgage from Miami Beach Finance Investments.

Two companies managed by Joseph Chetrit and a third managed by Robert Wolf – a frequent Chetrit partner – sold the land to Terra Weston. The companies acquired the course through the foreclosure and bankruptcy courts. The previous owner, Mordechai Boaziz-managed Tavor Holdings, was hit with a foreclosure lawsuit in 2011 and filed for Chapter 11 reorganization the following year.

U.S. Bankruptcy Judge Laurel Isicoff approved the sale of the golf course to the Chetrit and Wolf-managed companies in December 2013. The $8.3 million transaction closed in March. — Eric Kalis