- Delray Trails
Delray Beach, FL
13th Floor Investments took title in March of 2020 to the Delray Trails community, a 119-acre non-operational golf course in Delray Beach, Florida. 13th Floor retained a purchase option to convert upon successful re-entitlement into developable land for an active adult community that will consist of 251 townhomes and 164 single-family homes. Our all-in acquisition basis of $8MM represents a steep discount to the land's estimated market value of $18MM.
251 Townhomes, 164 Single-family Homes