Miami-based homebuilder Lennar Corp. has a contract to acquire a public golf course in Boca Raton from Wells Fargo Bank for an undisclosed amount on July 1.
Lennar plans to build homes on the entire grounds of the 27-hole Ocean Breeze Golf Club at 5801 Northwest 2 Avenue in Boca Raton.
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Wells Fargo owns Ocean Breeze because the bank’s South Florida predecessor, Wachovia Bank, filed a foreclosure suit in 2010 against the property’s previous owner.
A Wells Fargo spokeswoman told the Sun-Sentinel that Ocean Breeze is too expensive to maintain as a golf course.
The 27-hole golf course is the largest of two public courses in Boca Raton that are open to the public…
Read the full story at The Real Deal, by Mike Seemuth
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