Sabal Palm North

In September 2010, 13th Floor purchased the mortgage and note secured by a planned development known as Sabal Palm in Tamarac, Florida.  The loan collateral consisted of 288 finished townhome lots and 34 single family lots. In May 2011, 13th Floor took title to Sabal Palm North. The site benefits from excellent visibility along Commercial Boulevard and the Florida Turnpike. The immediate neighborhood is essentially built with primarily residential and some commercial uses along the major roadways. Educational facilities, shopping, restaurants, churches, major highways, office centers, and entertainment amenities are all convenient to the site. 13th Floor expects to complete horizontal development in 2011.