Orchid Grove

In April 2009, 13^th Floor Investments purchased the mortgage and note secured by Orchid Grove, an awarding winning master planned community located in Pompano Beach, FL.  At the time of acquisition, the loan collateral consisted of 62 finished townhome units, 236 finished townhome lots, and 2 development pads for 96 condominium units.  Following acquisition, the 13^th Floor team finalized the foreclosure and took title to the loan collateral in September 2010.  Our team is now actively leasing the standing and inventory.  We have also revised development approvals and re-platted the land portion of the site to allow for 296 townhome lots, which we are now in the process of selling.