Luxury home builder sells house in
Palm Beach Gardens for $5.3M

Robert and Adele Balemian bought the property

Feb.February 20, 2018 04:30 PM

12229 Plantation Way and Paul Courchene (Credit: Palm Beach County Property Appraiser and Courchene Development)

Luxury home builder Courchene Development Corp. just sold a recently completed home in Palm Beach Gardens for $5.3 million, property records show.

Robert and Adele Balemian, listed as trustees of the Balemian Family Trust, are the buyers of the home at 12229 Plantation Way in Old Palm Golf Club. The community spans 651 acres and features a 33-acre golf practice facility and a 43,000 square-foot clubhouse and spa, according to its website.

Paul Courchene, who heads the Boca Raton-based development firm, could not be immediately reached for comment, and structural details of the house are not available in records. Custom estates within the private residential golf community range from 7,000 square feet to more than 15,000 square feet and are priced between $5 million to $15 million, according to its website.

The developer paid $1.4 million for the property in 2016. The company owns and is building a number of homes within the golf community. Records show Courchene bought the half-acre lot from real estate investment group Clarion Partners, which purchased at least 19 parcels in the community for $26 million in 2010, records show.

A number of investors have been buying property in Palm Beach Gardens. Nearby, PGIM Real Estate paid $118 million in July for a 340-unit apartment complex. In December, Rockbridge Capital paid $29 million for the Palm Beach Gardens Marriott at 4000 RCA Boulevard.

Related Articles

Glenn Straub and the Palm Beach Polo and Country Club property (Credit: Google Maps)

Glenn Straub sells piece of Wellington polo club after failed development attempt

3650 RCA Boulevard and United Group of Housing CEO Michael J. Uccellini (Credit: Google Maps)

United Group nabs Palm Beach Gardens property to build senior living

Daily Digest Miami

Rise in climate-related home buyouts could worsen housing inequality, Eurostars parent buys historic downtown Miami property: Daily digest

Brent Baker and a rendering of Oak Tree Golf Course

Pulte pays $31M for Oakland Park golf course

Toll Brothers CEO Douglas C. Yearley, Jr. an a rendering of Avenir Community

Homebuilder Toll Brothers adds to portfolio aimed at active adult communities in Palm Beach Gardens

Brenton Saunders and 14630 Watermark Way

Wrinkle-free deal? Botox parent Allergan CEO sells Palm Beach Gardens home

Donald Trump at Trump National Doral (Credit: Getty Images)

Former members of Trump Doral may have to wait decades to get their deposits back

Daily Digest Miami

Chicken Soup for the Soul publisher sells Deerfield Beach properties, pollutants discovered at new Miami Civil Courthouse: Daily digest