Updated Aug 25, 2026
Bobby Julien Of Kolter Homes Acquires Development Site In Palm Beach Gardens For $16.67M
$16,670,000
Building Size
—
Asset Type
Development Site
Closing
Aug 18, 2026
About this deal
AI
A development site located at Panther National Boulevard & Avenir Drive in Palm Beach Gardens, FL was sold for $16,670,000. The transaction involved the acquisition of 144 residential lots as part of the Avenir master-planned community. The sale price reflects $115,764 per lot, contributing to a larger development project approved for thousands of homes along with commercial and healthcare projects.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $16,670,000
- Buyer: Bobby Julien - Kolter Homes
- Seller: Avenir Development LLC
- Number of Lots: 144
- Location: Palm Beach Gardens, FL
- Market: Palm Beach Gardens, FL
Bobby Julien, representing Kolter Homes, facilitated the acquisition from Avenir Development LLC. This transaction enhances Kolter's presence in the Avenir community, which spans 4,763 acres and is tailored for extensive residential and commercial development.
Players
Market 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
0.95%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93