Douglas C. Yearley Jr. Of Toll Brothers Acquires 20.9 Acre Development Site In Parkland For $19.5M
$19,500,000
Building Size
—
Asset Type
Development Site
Closing
Sep 10, 2025
AI
A 20.9-acre development site located on the west side of Nob Hill Road, north of Heron Bay Boulevard in Parkland, has been sold for $19,500,000. The property, a former golf course site, will be developed into Saltgrass at Heron Bay, a community featuring 52 luxury homes with pricing starting at $1.6 million. This acquisition supports the city-approved redevelopment plans for the area.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $19,500,000
- Address: West side of Nob Hill Road, North of Heron Bay Boulevard
- Market: Parkland
- Acres: 20.9
- Buyer: Douglas C. Yearley Jr. - Toll Brothers
- Seller: City of Parkland
Douglas C. Yearley Jr. represents Toll Brothers in this transaction. The project is a significant aspect of Parkland's ongoing efforts to enhance the Heron Bay area as part of a broader vision for urban redevelopment.
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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93