PulteGroup Acquires 27-Acre Lake Worth Beach Development Site For $21.1M

PulteGroup has acquired a 27-acre development site in Lake Worth Beach for $21.1 million. The property, located at 6690 South Military Trail, offers ample space for a new project called Everton. This upcoming development will consist of 210 townhouses, targeting both young professionals and families. The townhouses will be priced between $400,000 and $500,000, aiming to meet the underserved demand in Palm Beach County. Construction is slated to commence in six months, ensuring a timely response to the housing needs of the area.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $21,100,000
• Property Address: 6690 South Military Trail, 4265, 4366 Sylvia Lane, 6654 & 6666 43rd Avenue South
• Market: Lake Worth Beach
• Buyer: PulteGroup - Ryan Marshall & Brent Baker
• Seller: 6690 S Military Trail LLC, MG3 Alf Military LLC, Ray Marcinkoski, Cecilia Homrich & George Homrich

The deal was facilitated by PulteGroup, with Ryan Marshall and Brent Baker leading the transaction on their behalf. On the other side, the property was sold by 6690 S Military Trail LLC, MG3 Alf Military LLC, Ray Marcinkoski, Cecilia Homrich, and George Homrich. The acquisition of the development site by PulteGroup underlines their strategic vision to cater to the housing needs of the growing Lake Worth Beach market. Everton, the forthcoming townhouse project, is poised to bring contemporary living options to young professionals and families in Palm Beach County.