Developer Craig Perry drops $51M on Parkland dev site

Developer Craig Perry drops $51M on Parkland dev site

Thursday, August 2, 2018

Aerial view of 7240 Loxahatchee Road and Craig Perry

Developer Craig Perry of Centerline Capital Advisors just paid $50.5 million for a development site in Parkland, property records show.

WSFM1 LLC, tied to the McJunkin family, sold the 148.35-acre property at 7240 Loxahatchee Road to Perry’s Parkland Centerline Development LLC. The buyer financed the deal with a $19 million mortgage from City National Bank of Florida.

The property was rezoned for 445 single-family homes, according to the South Florida Business Journal. Perry told the publication that Centerline Homes will sell the developed homes to Ryan Homes, a Reston, Virginia-based homebuilder owned by NVR Inc.

Pavlik Realty’s Mitchell R. Pavlik brokered the sale.

CC Homes, Lennar Corp. and other homebuilders are active in Parkland. Last year, CC Homes picked up about 7 acres to build a 25-home luxury project called Cascata at MiraLago. 

Perry is also working with Ryan Homes on a development site in Homestead. A Centerline affiliate paid $21.3 million for 480 parcels west of the Florida Turnpike and south of Silver Palm Drive earlier this year.

The developer founded Sunrise-based Centerline Capital Advisors in 2013 after he sold Centerline Homes to Standard Pacific.

Source: The Real Deal