GL Homes bucks trend, buys $117 million of land [South Florida]
Home builders are dumping land, cutting workers and otherwise retrenching, yet GL Homes is still buying. The Sunrise-based builder just paid $117 million for 1,068 acres west of Delray Beach.
Privately held GL Homes bought the site from the Hyder family. The builder put the tract under contract during the real estate boom and closed on the deal early this month, according to property records.
“With the market the way it is, I was shocked they went through with it,” said Mike Blann, general manager of Sunshine Meadows Equestrian Village, which borders GL’s property.
GL officials refused to comment.