Concord Wilshire Buys Brian Tuttle’s Bankrupt Palm Beach County Dev Site for $60M
The buyer plans to build 401 multifamily units, 125 hotel rooms, an 83,000-square-foot office building, and about 427,000 square feet of retail space
By Julia Echikson April 17, 2026 2:45 pm
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Concord Wilshire has purchased out of bankruptcy Brian Tuttle’s mixed-use development site in Royal Palm Beach, Fla., for $60 million.
The parcel spans about 43 acres at the intersection of State Route 7 and Southern Boulevard, near the western end of Palm Beach County. Concord plans to develop a master-planned community with 401 multifamily units, a 125-room hotel, an 83,000-square-foot office building, and about 427,000 square feet of retail space.
“We are now fully engaged in delivering a thoughtfully designed, mixed-use community that will create a true sense of place, generate meaningful economic activity, and serve as a long-term asset for Royal Palm Beach and the broader region,” Bromley Kelly, managing director of construction of Concord Wilshire, said in a statement.
Miami-based Concord Wilshire is looking for development partners.
The parcel was part Tuttle’s Tuttle Royale master-planned development. Tuttle has made a name by prepping sites for developers, getting all the needed approvals, and selling them off before construction begins.
Tuttle Royale was his first effort at ground-up development. His plans went awry in September when he filed for Chapter 11 reorganization to avoid a foreclosure auction. Lender Fuse Group alleged Tuttle owned nearly $58 million in unpaid debt, including principal and interest.
Earlier this year, bankruptcy Judge Erik Kimball approved a reorganization with two potential resolutions. The first plan called for the $60 million sale to Concord Wilshire. If Concord failed to close the purchase, Atlanta-based Ardent would step in and buy the asset in a transaction that would leave Tuttle with some equity.
This month, Concord Wilshire sued Tuttle, alleging that he tried to sabotage its purchase to make Ardent victorious, The Real Deal reported. Litigation will continue until damages are adjudicated, per a spokesman for Concord Wilshire.
A representative for Tuttle did not immediately respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
