Panther National Changed Hands This Summer. What Exactly Are Buyers Buying Into Now?

The most recent membership pricing anyone has published for Panther National is from March 2024. The clubhouse that was promised for fall 2026 is described in one recent account as opening by early 2027. And the company that owns the club has owned it only since July. A buyer looking at the release of homes and homesites coming later this month will be pricing a house against all three of those facts. In this community, the house may be the most settled part of the deal.

One Seller Now Holds the Lots, the Club, and the Calendar

In July 2026, The Real Deal reported that Centaur Holdings sold Panther National to an entity linked to Texas-based Ohana Real Estate Investors for $191.2 million, or $488,000 per acre across 392 acres. The purchase covered the 18-hole championship course, the nine-hole par-three course, and about 150 unsold home lots in the 218-unit community. Centaur had paid $60 million for the site inside Avenir in 2021, and by 2023 it had finished the Jack Nicklaus and Justin Thomas course along with 68 homes.

That leaves about 150 of 218 homesites with a single owner. The same owner runs the club, and the same owner decides when the clubhouse, racquet courts, and pools get finished. In Ohana's acquisition announcement, the firm called this its first equity investment in Florida and said its platform includes "investment, development and residential brokerage capabilities." Put simply, the new owner can build the amenities, sell the homes, and represent itself when it sells them.

The financing follows the same pattern. JPMorgan Chase provided a $115 million mortgage at closing. About a month later, The Real Deal reported that Ohana affiliates added $50 million, bringing the debt to $165 million, and that the loan also secures a revolving credit facility of up to $73.3 million. Reporting does not say how the money will be spent. What it does show is an owner carrying significant debt on an asset that still includes roughly 150 unsold homesites.

What the Lots Cost in Bulk Versus One at a Time

The arithmetic here is simple. Divide the entire $191.2 million by about 150 lots and you get roughly $1.27 million per lot. That overstates the cost of a lot, because the same price also bought two golf courses. Even so, it is a useful ceiling: the most Ohana could have paid per homesite, assuming the courses were worth nothing, was about $1.27 million.

Retail pricing is a different number. On the Panther National website, dated September 2026, Estate Homesites start at $2,095,000 and turnkey Estate Homes start at $5,195,000.

The gap between a bulk price and a retail price is normal for any developer. It covers carrying costs, sales costs, and the amenities buyers expect to see built. The gap also explains why the amenity schedule matters so much to the owner's business. A finished clubhouse supports retail pricing on every lot still for sale, and a delayed one makes that pricing harder to hold.

It is also useful to look at how entry pricing has moved. In July 2022, the first sales release put custom homesites at $2 million to $5 million. A South Florida Business Journal preview from February 2023 reported that Ellish Builders paid $3 million per home lot. Four years and one change of ownership after the first release, the lowest advertised homesite price is $2,095,000, almost exactly where it started. The published figures cannot tell us whether that reflects a different mix of lots, a change in strategy, or the market. They only show that the starting price has stayed close to where it began.

The Amenity Calendar Has Moved, and the Sources Disagree

This is where the friction shows up in a transaction. The dates below come from published sources over the last two years. They do not all agree, and none of them is a binding commitment.

The LINKS piece carries no publication date, so its "early 2027" clubhouse date cannot be ranked against The Real Deal's August "this fall" with any confidence. The Racquet Center's date has clearly moved later, from the first quarter of 2026 to late 2026. The Lifestyle Club comparison sets a 2024 construction-start target against a later debut date, so those two figures describe different milestones. Ohana's July announcement said it would keep investing in amenities but did not give a new schedule.

The clubhouse plans have also been described differently over time. In March 2024, the New York Post reported four dining concepts, one of them inspired by Andreas Caminada of the three-Michelin-star Schloss Schauenstein in Switzerland. The more recent LINKS description lists European-influenced fine dining with a show kitchen, a casual dining and bar space, a wine bar and cellar, and Panther Bistro, a coffee and juice bar, without naming a chef or operator. Nothing published since the sale confirms whether the Caminada-inspired concept is still planned.

Membership Terms Are the Oldest Number in the Deal

The newest membership figures in the public record are from March 2024. That month, then-CEO Frank Weed told the New York Post that memberships began at a $500,000 initiation fee with annual dues in the low $30,000s, and that homeowners inside the gates paid a reduced initiation of $400,000 with similar dues. Those numbers were set under the previous owner, before the amenities that dues are supposed to support were finished.

The club's website describes it as "reserved for 300 members." Since the sale, no updated initiation fee, dues schedule, equity status, or membership requirement for homeowners has been published. For a buyer, that means the long-term cost of owning here, made up of initiation, dues, and whatever assessment structure eventually applies, is a figure the seller has to provide directly. It cannot be checked against a recent public source.

New Operator, Same Golf

The golf course itself is the most settled part of the package. Golfweek ranked Panther National fourth on its 2026 list of top U.S. residential courses, published in January, and third on its 2026 list of Florida private courses, published in June. LINKS describes Panther9, the nine-hole par-three course with holes of 60 to 200 yards and no formal tees, and says the club has held events playing it backwards or as part of a 27-hole loop with The Big Cat.

The people running the club are changing. According to the October 5 release carried by The First Call Golf, Andrew Whitelaw will join as chief operating officer and general manager on December 1. Whitelaw was most recently COO and general manager at Aronimink Golf Club, which hosted the 108th PGA Championship in May 2026. The same release says Ohana "is accelerating the next release of private homes and homesites, which will be available in late October."

That sequence affects anyone who buys this month. Homes in the release become available in late October, about five weeks before the new general manager arrives on December 1, and the most recent published projection puts the clubhouse opening after both dates. Someone who buys from this release will be choosing a home before the person who will run their club has started and before the main building opens.

What the Seller Can Document Before a Contract

With the late-October release coming, these questions turn the uncertainty above into written answers:

1. What is the current initiation fee and dues schedule, and is membership required with a home purchase?
2. Does the purchase contract or club documentation tie any commitment to clubhouse, Racquet Center, or Lifestyle Club completion dates?
3. Which lots are in this release, and how do they relate to the advertised starting prices of $2,095,000 for homesites and $5,195,000 for homes as of September 2026?
4. How are the remaining homesites expected to be released over time?
5. Will the dining concepts described before the sale go ahead under the new owner?

Questions Buyers Ask About Panther National Right Now

Who owns Panther National today? An entity linked to Ohana Real Estate Investors, which bought it from Centaur Holdings in July 2026 for a reported $191.2 million.

Is the clubhouse open? No published source confirms that it has opened. The Real Deal said "this fall" in August 2026, and LINKS Magazine gives "by early 2027."

Are the 2024 membership fees still accurate? They are the latest figures published, but they predate the sale. Neither the club nor its new owner has released updated terms.

How much of the community is still for sale? The sale included about 150 unsold lots out of 218 planned.

If you are considering the late-October release, we can help you get the current membership terms and amenity commitments in writing before you sign. Hughes Browne Group represents buyers in developer-led club communities across northern Palm Beach County. Start a Conversation with our team, and we will go through what this release includes and what is still to be confirmed.

This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.