Karl Mistry Of Toll Brothers Purchases 122.5 Acres From William J. Maracci For $21.65M

The commercial asset at 9302 and 9400 South Military Trail spans 122.5 acres and is located in Boynton Beach, FL. This property was sold for a total price of $21,650,000, with a price per acre of $176,735.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $21,650,000
• Address: 9302 & 9400 South Military Trail
• Market: Boynton Beach, FL
• Acres: 122.5
• Price Per Acre: $176,735
• Buyer: Karl Mistry - Toll Brothers
• Seller: William J. Maracci - True Shot LLC

True Shot LLC, managed by William J. Maracci, completed the sale to Arroyo Capital Management, which is acting as a land bank for Toll Brothers. The transaction is linked to future plans for a 152-home residential redevelopment, pending county approval of the project.