Ryan R. Marshall Of PulteGroup Purchases Development Site In Tequesta For $15.1M
149 Royal Palm Cir
$15,100,000
Building Size
—
Asset Type
Development Site
Closing
May 5, 2026
AI
The transaction involves a development site at 149 Royal Palm Cir in Tequesta, FL. PulteGroup acquired the remaining 53 townhouse lots at Reserve at Tequesta, which is part of a partially built 69-unit community, for $15,100,000. The Atlanta-based homebuilder is planning to complete construction through its DiVosta Homes brand, and the units are expected to be priced starting in the $800,000s.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $15,100,000
- Buyer: Ryan R. Marshall - PulteGroup
- Seller: Louis J. Capano Jr - Royal Tequesta LLC
- Market: Tequesta, FL
Ryan R. Marshall, representing PulteGroup, engaged in the transaction with Louis J. Capano Jr., who represented Royal Tequesta LLC. The deal signifies a strategic move as PulteGroup aims to finalize construction of the townhouse lots with anticipated deliveries expected between late 2026 and early 2027.
Royal Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.05%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93