BTI Partners sold the remaining lots in the 500-home community Arbor Parc to 13th Floor Homes for $8.2 million.
Miami-based 13th Floor bought 98 lots and two model homes at 4046 Woods Edge Circle in Riviera Beach for $82,000 per lot including the two homes, according to a release. The deal closed just two weeks after BTI Partners sold 309 townhome lots in Arbor Parc to Lennar Corp. for $19.25 million.
The 69-acre Arbor Parc is a gated residential community under construction just west of I-95. The site includes a 10-acre lake and three acres of green space.
The three- and four-bedroom homes range from 1,558 square feet to 2,086 square feet, with prices starting in the mid $200,000’s. There are currently about 125 homes and townhomes sold or under contract, according to a release.
Fort Lauderdale-based BTI Partners has been active in Florida. BTI is currently building Westshore Marina District, the second largest mixed-use community under construction in Tampa.
In South Florida, demand is growing for entry-level home communities like Arbor Parc, due to rising home prices in Miami and Fort Lauderdale.
Lennar, Ryan Homes, Kenco Communities and Kennedy Homes are constructing homes in another 1,200-acre master-planned community in western Palm Beach called Arden.