13th Floor Investments has sold Solera at Avalon Trails, a 55-plus housing community in West Delray Beach, Fla., for $29.3 million, according to Commercial Observer.
Robbins Property Associates acquired the 7.6-acre property, which is located at 14800 Cumberland Drive. Property records identify the community as a new residential asset designed for residents aged 55 and older.
Solera at Avalon Trails includes 74 single-story houses, placing the transaction within South Florida's active market for age-restricted residential communities.
The sale gives Robbins Property Associates control of a recently developed housing community in western Delray Beach, while 13th Floor Investments exits the asset following its development.
