Centaur buys Avenir property for $ 60 million to build golf course community – Commercial Observer

by | Nov 5, 2021 | Golf Courses

Swiss development company Centaur group plans a luxury community around a new golf course in Palm Beach County.

Centaur Group bought 392 acres on the sprawling Come up Development in Palm Beach Gardens, Florida, for $ 60 million, real estate records show.

The Centaur Group plans to build 218 luxury single-family homes ranging in size from 4,000 to more than 7,500 square meters around a golf course designed by sports legends Jack Nicholas, all part of a development called Panther.

Centaur’s project is just a project within Avenir, a master-planed location in South Florida located in the northwest corner of Palm Beach County on Northlake Boulevard.

In 2012, the seller – Avenir Holdings, managed by David Serviansky – Bought 4,700 acres for $ 20 million per record, with plans to convert it into a mega shared apartment.

The Coral Gables-based Landstar development group, a Serviansky affiliate, has set up the site’s master infrastructure by laying pavement, drainage and sewage before it is sold to home builders like Centaur, as well Toll brothers and Kenco communities. Earlier this year, Serviansky sold 445 acres for $ 69.4 million to Landstar.

In the Panther development, construction of the infrastructure has already begun, according to Centaur, and home sales are slated to begin in the first quarter of 2022.

“This property represents what is likely the last remaining opportunity to develop luxury golf in Northern Palm Beach County, one of the strongest residential real estate markets in the country,” said Dominik Senn, Founder of Centaur, who is also a sports agent and former alpine ski racer.

Centaur is bucking the trend of home builders gobbling up failed golf courses to build homes. Just this week North American Development Group (NADG) received a $ 95.7 million loan to build 252 homes above that Mizner Trail Golf Clubwhich was closed in 2005.

The Swiss company also secured a $ 35 million loan from Naples, Florida. Panther National Lender, according to public documents.