The property involved in this transaction is a 21.3-acre development site located at 7705 & 7870 Margate Boulevard in the Margate market. Pulte Homes, a subsidiary of PulteGroup, acquired the site for a sale price of $17,675,000, intending to develop a 132-townhome community named Coral Edge.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $17,675,000
• Buyer: Ryan R. Marshall - PulteGroup
• Seller: Michael J. Fimiani - Margate Executive Golf Course Inc
• Development Plan: Coral Edge, a community featuring three-bedroom units
• Projected Unit Pricing: From the high $500,000s
• Sales Start Date: Summer 2026
• First Deliveries: Later in 2026

Ryan R. Marshall represented PulteGroup in the transaction, while Michael J. Fimiani represented Margate Executive Golf Course Inc as the seller. The project will transform the former Margate Executive Golf Course into a new residential community, marking a significant development in the area.