Fore no more: GL Homes pays $10M for Polo Trace Golf & Country Club in Delray Beach

Sunrise-based developer plans to build 324 single-family homes, with site work beginning in June

Miami /
Apr.April 27, 2018 10:45 AM

Polo Trace Golf and Country Club (Credit:polotracegolf.com/)

The Polo Trace Golf and Country Club in Delray Beach is the latest in a long line of South Florida golf courses to be handed over to a developer with plans to build new single-family homes.

Property records show an affiliate of GL Homes just paid $10 million for the golf course and country club at 13479 Hagen Ranch Road. In total the land spans a little more than 150 acres, meaning the deal breaks down to about $66,700 per acre.

Polo Trace Golf Club LLC, led by Bruce W. Quinn, is the seller. Records show Quinn bought the property in 2001 for $8.35 million and spent an additional $4,360 in 2003 for an extra 14 acres, consisting of several lakes within the golf course.

The Sunrise-based developer received county approval earlier this year to build up to 325 single-family homes on the golf course. GL Homes’ Larry Portnoy said the company will build 324 homes, with site work set to begin in June.

GL Homes also recently bought the Boca Raton Municipal Golf Course for $65 million, where it plans to replace the 27-hole, 194-acre course with a community of 500 homes. Earlier this month, the city of Boca Raton and its Greater Boca Raton Beach and Park District bought the 27-hole Ocean Breeze course for $24 million .

Atlanta-based Pulte is also developing 152 homes on nine of Woodmont Country Club’s 18 holes in Tamarac. It paid $10.2 million for the property in 2016.


Related Articles

arrow_forward_ios
Gatsby Enterprises'  Babak Ebrahimzadeh with 25 and 45 Northeast Second Avenue, as well as at 220 Northeast First Street (Loopnet, LinkedIn)
All aboard! Gatsby buys railroad-themed Delray Beach retail plaza for $30M
All aboard! Gatsby buys railroad-themed Delray Beach retail plaza for $30M
River Oaks founder and Chairman Gerald Rubin and Shop Delray at 8918 Atlantic Avenue in Delray Beach (River Oaks Properties El Paso)
River Oaks picks up Delray Beach shopping center for $26M
River Oaks picks up Delray Beach shopping center for $26M
Kaufman's Michael Kaufman with 3185 South Congress Avenue (Kaufman, Google Maps)
Kaufman Lynn sells Delray Beach HQ for $10M, but firm won’t relocate
Kaufman Lynn sells Delray Beach HQ for $10M, but firm won’t relocate
From left: Sotheby’s Daniel de la Vega and Reagan Jefferies with Brevard County
One Sotheby’s picks up Brevard County brokerage
One Sotheby’s picks up Brevard County brokerage
Google Street View of the properties at 551 Southeast Eighth Street and 551 Southeast Fifth Avenue in Delray Beach with CDS International Holdings founder Carl DeSantis (Google Maps, CDS Holdings)
Celsius energy drink investor Carl DeSantis pays $25M for Delray Beach offices
Celsius energy drink investor Carl DeSantis pays $25M for Delray Beach offices
10181 US Highway 98 West and 39 Sandy Dunes Circle (LoopNet)
Florida Panhandle estate sold for $25M
Florida Panhandle estate sold for $25M
Netscape co-founder Jim Clark and 2000 South Ocean Boulevard in Manalapan (Getty, Sotheby's)
Manalapan compound poised to sell for Florida-record $175M
Manalapan compound poised to sell for Florida-record $175M
Hassan Whiteside and 528 Lakeview Court in Miami Beach (Getty, Joe Azar/Compass)
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...