Ohana buys Panther National in Palm Beach Gardens for $191 million as the clubhouse nears opening
Ohana Real Estate Investors bought Panther National in Palm Beach Gardens for $191.2 million in July and has now upsized its JPMorgan loan to $165 million. The private club's 58,000-square-foot clubhouse is slated to open this fall.
Ohana Real Estate Investors paid $191.2 million in July for Panther National, a private golf club and housing community in Palm Beach Gardens, Florida, then raised its JPMorgan loan on the property to $165 million a month later. The Real Deal reported the extra $50 million on August 26. Panther National is an 18-hole Jack Nicklaus and Justin Thomas course, with a nine-hole par-three, inside the Avenir master plan. A clubhouse of about 58,000 square feet is still going up and is listed to open this fall.
The buyer is Austin-based Ohana Real Estate Investors, a hospitality and residential manager founded in 2009. Its July 23 acquisition release called Panther National the firm's first equity investment in Florida and said Ohana already holds a credit position in Fontainebleau Miami Beach. Franco Famularo, president and chief investment officer, described the purchase as a fit for a portfolio built around custom residences, championship golf, and club amenities. Eddie Yu, partner and head of acquisitions, named Twin Dolphin in Los Cabos as a community Ohana has already developed and said the firm intends to keep investing in the real estate, the member experience, and the amenities. As of July 1, Ohana said it manages nearly $4 billion, has developed more than 3.7 million square feet of residential communities and amenities, and that its brokerage has closed more than $3.4 billion across the portfolio.
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The $191.2 million price is $488,000 per acre on 392 acres, according to The Real Deal and Commercial Observer, which both treated the figure as coming from property records. Ohana's own release describes the site as 400 acres. The seller was Centaur (Palm Beach) Owner LLC, an affiliate of Switzerland-based Centaur Holdings. JPMorgan Chase Bank supplied a $115 million acquisition mortgage in July. The August loan, The Real Deal said, adds $50 million and also secures a revolving credit facility with a maximum principal amount of $73.3 million. The package included the championship course, the par-three, and about 150 unsold home lots in a planned 218-residence community.
Centaur bought the land inside Avenir from Coral Gables master developer Landstar for $60 million in 2021. The 18-hole course opened November 17, 2023, Golf.com reported from opening day, with Justin Thomas playing the first hole of his first design credit. Swiss developer Dominik Senn had brought the job to Nicklaus; Nicklaus brought in Thomas. In August 2024, Sunrise Realty Trust and affiliates put up a $160 million facility to refinance existing debt and fund a second phase of homes, villas, the clubhouse, a fitness center, and a golf training center. Sunrise announced full repayment on July 21, 2026, as the Ohana sale closed.
The building that belongs on this site is the clubhouse. Developer groundbreaking materials from November 2024 listed it at 58,000 square feet. Ohana's July release says nearly 60,000. STRANG, the Miami design firm, lists 55,200 square feet on a 10-acre site and still marks the job under construction. The Real Deal's August loan story uses 58,000 and says the house is slated to open this fall, with a restaurant, wine bar, fitness center, event lawn, courtyard, locker rooms, and a fashion and golf shop. Max Strang of STRANG is the design architect, named on the firm's project page and in the club's 2024 and 2025 construction releases, with Peacock & Lewis as architect of record and Decorators Unlimited on interiors. Lucido & Associates is listed for landscape. Verdex Construction of West Palm Beach is the general contractor. A May 2025 construction release said vertical work was underway and pointed to a fourth-quarter 2026 opening. Club materials name a tower, The Rock, as the wine-bar volume. Treat fall 2026 as the current public line from the buyer, the loan coverage, and the contractor-era release. An independent walkthrough of the finished rooms was not available for this draft.
The housing half of the stack is not a sidebar. The Real Deal and Commercial Observer say the sale included about 150 unsold lots in that 218-unit plan, with 68 homes already delivered when the course opened in 2023, and house prices above $1 million. Ohana said the on-site team is preparing the next release of private homes and homesites for fall 2026. Club materials describe a choice between semi-custom Signature Estates and fully custom houses, ranging from $4.5 million to more than $20 million. The 2024 Sunrise facility was written to fund 156 houses and 24 villas as part of the second phase. Sunrise's July repayment notice still describes 218 residences plus additional villas and suites.
That is the same mixed club-and-homesite handoff as Ocala's $63 million IronCrest sale, where a 37,000-square-foot clubhouse and more than 200 builder-ready lots moved with the course. Panther National is farther along on golf and earlier on the house: the Nicklaus-Thomas course is open, the clubhouse is not. Also in Palm Beach County, The Club at Ibis is spending member capital to rebuild an occupied 1995 clubhouse on three Nicklaus-family courses. Panther National is trying to finish a new building that has to carry membership and the remaining lots. Both jobs belong in the same golf-development file. A $191 million Palm Beach Gardens trade with a clubhouse still under construction is the larger of the two Florida stacks on this site.
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