Updated Apr 17, 2026
Bromley Kelly Of Concord Wilshire Capital Acquires 43-Acre Development Site In Royal Palm Beach For $60M
10629 Acme Road
$60,000,000
Building Size
—
Asset Type
Development Site
Closing
Apr 16, 2026
About this deal
AI
A 43-acre development site located at 10629 Acme Road in Royal Palm Beach has been sold for $60 million. This site is part of the larger 200-acre Tuttle Royale mixed-use development, which is set to include 401 apartments, along with retail, office, and hotel uses.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $60,000,000
- Buyer: Bromley Kelly - Concord Wilshire Capital
- Market: Royal Palm Beach
- Asset Size: 43 acres
Concord Wilshire Capital acquired the property through U.S. Bankruptcy Court, outbidding a competing offer of $62 million. The developer is preparing to move forward with permits and commence early construction on the site.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93