13th Floor sells Delray Beach rentals for $33M as developers target city

Fort Lauderdale-based 13th Floor Homes sold a recently completed Delray Beach rental community to a Tampa-based buyer for $33.4 million. Robbins Property Associates picked up the 55-and-older community at 14800 Cumberland Drive in western Delray Beach just a year after it was completed.  The homebuilding subsidiary of Miami-based 13th Floor Investments developed the community, known as Solera at Avalon Trails. It includes 74 single-story attached rental homes within the gated Avalon Trails neighborhood. The community was designed to meet demand for high-quality, low-maintenance rentals, 13th Floor division president Mike Nunziata said in a news release. The units have two or […]

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