Fort Washington-based Toll Brothers has sued the owner of a shuttered Florida golf course to enforce a purchase agreement on the 55-acre property, writes Brian Bandell for the Philadelphia Business Journal.
The luxury homebuilder filed a complaint through its affiliate Toll Southeast on January 31 in the U.S. District Court in West Palm Beach against Boca Raton Executive Country Club Corp. The Miami-based defendant is owner of the former Hidden Valley Golf Course in Boca Raton, which has been closed for years.
The lawsuit alleges that BRECC President Raelynne Kolter signed a sales agreement with Toll Southeast in February 2024 for the purchase of the property. The agreement underwent five revisions, with the latest amendment, dated October 1, 2024, extending the inspection period through to the end of last year.
However, the Florida company has refused to close on the sales agreement. As a result, Toll Southeast is seeking specific performance to force it to honor the deal and claiming breach of contract.
Toll Southeast also filed a lis pendens on the property, effectively placing a hold on its title and preventing any sale while the lawsuit remains unresolved.
Read more about Toll Brothers in the Philadelphia Business Journal.
