13th Floor Homes Delivers Solera at Avalon Trails Active-Adult Community in Delray Beach
As demand for premium rental housing among the active-adult community grows in South Florida, 13th Floor Homes, the homebuilding division of 13th Floor Investments, has completed its newest build-for-rent community in Delray Beach, Florida.
As demand for premium rental housing among the active-adult community grows in South Florida, 13th Floor Homes, the homebuilding division of 13th Floor Investments, has completed its newest build-for-rent community in Delray Beach, Florida. Now welcoming residents and already more than 50% leased, Solera at Avalon Trails includes 74 single-story villas located at 14800 Cumberland Drive in the West Delray Beach area of Palm Beach County.
Located within the Avalon Trails active-adult community, Solera at Avalon Trails offers an unparalleled lifestyle for adults aged 55+ seeking luxury rental housing in an amenity-focused, gated community. Homes include two- and three-bedroom floorplans measuring between 1,300 to 1,450 square feet in size, with high-end contemporary features and finishes like quartz countertops, shaker-style wood cabinetry, energy efficient stainless-steel appliances, spacious primary suites, and impact-resistant windows and doors. Monthly rental rates range from $3,400 to $4,000.
“The completion of Solera at Avalon Trails is a significant step in meeting the growing demand for high-quality 55-plus housing in South Florida,” said Mike Nunziata, Division President of 13th Floor Homes. “Today’s active adults are living longer and seeking maintenance-free, resort-style living, and Solera delivers just that. With luxurious homes and a wide range of amenities, this community offers active adults a vibrant, carefree lifestyle. We're excited to provide a solution that aligns with the needs of the region’s expanding active-adult population.”
Solera at Avalon Trails offers an extensive amenity program designed for active adults to live a more sociable and engaging lifestyle. Residents can enjoy the community’s state-of-the art amenity campus inclusive of a clubhouse with a fitness center, card rooms, café, arts and crafts room, and theater. The amenity campus includes a a resort-style pool, lap pool, pickleball and tennis courts. The community’s activities coordinator curates a weekly schedule full of activites for all interests.
The opening of Solera at Avalon Trails comes at a time when demand for active-adult rental housing is on the rise in South Florida. Delray Beach, known for its appealing coastal lifestyle, was recently named one of the top 10 places to retire in Florida by Southern Living.
Located in South Florida’s Palm Beach County, Solera at Avalon Trail’s prime location is a distinguishing feature that sets the neighborhood apart from the other 55+ communities and speaks to 13th Floor’s keen understanding of the active-adult market. Located moments away from Downtown Delray Beach and the South Florida coastline, the community is proximate to a variety of nearby arts, culture, and entertainment destinations, and is conveniently situated between Fort Lauderdale and West Palm Beach.
Solera at Avalon Trails is among 13th Floor Homes' newest communities in South Florida. With over 1,100 homes and 3,500 homesites developed across the region in the last decade, the firm’s portfolio of active developments includes two build-for-rent communities in Port Saint Lucie – the 220-unit Villas of Torino and the 126-unit Tredici at Central Park; and Marina Landings, 34 luxury single-family homes for sale in Fort Lauderdale. The firm also has plans to develop The Reserve at the Woodlands, a 335-home community in Tamarac.
For more information about leasing at Solera at Avalon Trails please fill out the form below:
Aztec Group Facilitates $55.6 Million Financing for Arcadia Gardens in Palm Beach Gardens
Aztec Group, a prominent real estate investment and merchant banking firm serving Florida for four decades, has announced its successful arrangement of $55.6 million in bridge financing for Arcadia Gardens, located in Palm Beach Gardens, Florida.
Aztec Group, a prominent real estate investment and merchant banking firm serving Florida for four decades, has announced its successful arrangement of $55.6 million in bridge financing for Arcadia Gardens, located in Palm Beach Gardens, Florida. This luxury age-restricted rental apartment community, encompassing 220 units across 10.64 acres, represents a significant investment in senior living infrastructure.
Developed in 2021, Arcadia Gardens offers residents a premium living experience coupled with a comprehensive amenity package. The centerpiece is its 15,210-square-foot clubhouse, featuring a plethora of amenities such as a fitness center, salon, movie theatre, and various sports courts including pickleball, bocce, and croquet. The community also boasts a pool, spa, walking trail, community garden, and full onsite dining facilities, ensuring residents have access to everything they need for a fulfilling lifestyle.
Strategically located in Palm Beach Gardens, Arcadia Gardens offers residents the convenience of easy access to over 2.9 million square feet of retail space within a one-mile radius. The proximity to The Gardens Mall, a renowned upscale shopping destination, further enhances the appeal of this vibrant community.
The project is managed by affiliates of the United Group of Companies based in Troy, NY, and Sina Companies of Palm Beach Gardens, FL. The United Group of Companies brings over 50 years of industry expertise to the management of Arcadia Gardens, further ensuring the success and quality of the development.
The financing for Arcadia Gardens was secured through MetLife and provides favorable terms, including full-term interest-only and a 36-month term. Peter Mekras, President of Aztec Group, emphasized the meticulous selection process, stating, “Aztec sourced multiple proposals for the financing of Arcadia Gardens and worked with the sponsors to select the capital source that could move quickly and understood the unique attributes of this age-restricted community.”
Aztec Group's success in arranging nearly $200 million in bridge financing in the first five months of 2024 underscores its expertise and commitment to facilitating transformative real estate projects.
Rieber Developments Breaks Ground on 12|12 Aventura in the Aventura Health District
Aventura-based Rieber Developments has announced the groundbreaking of 12|12 Aventura, a 10-story complex comprising of a 30,000-square-foot gourmet marketplace and food hall, 25,000 square feet of offices, a 160-residence luxury senior residential component, and a structured parking garage, all with interiors designed by Interiors by Steven G.
Aventura-based Rieber Developments has announced the groundbreaking of 12|12 Aventura, a 10-story complex comprising of a 30,000-square-foot gourmet marketplace and food hall, 25,000 square feet of offices, a 160-residence luxury senior residential component, and a structured parking garage, all with interiors designed by Interiors by Steven G.
The Arquitectonica-designed mixed-use project and its sister development Ivory 214, a medical and professional office building accompanied by a Tapestry Collection by Hilton™ hotel, will both serve as the epicenter of a planned ‘Aventura Health District.’
12|12 Aventura is nestled near a designated ‘medical office district’ which includes many of Aventura’s leading medical facilities. The $100 million project is also surrounded by 300 medical and professional practices and services, including Aventura Hospital, one of the only two facilities in Miami-Dade County with the designation of a Level II trauma center.
The centrally located development is also situated less than a mile away from Aventura Mall and from major thoroughfares including US 1, I-95, and the Florida Turnpike. With its own vibrant Chelsea Market-style food hall on the ground floor, 12|12 Aventura is uniquely positioned to serve the local community and guests alike a designation for shopping and dining.
“Breaking ground on 12|12 Aventura is a significant milestone for us, especially in these challenging times,” said Bernardo Rieber, principal of Rieber Developments. “Our philosophy in creating this project has always been to bring something new and unique to the neighborhood, melding community, culture, health, and wellness to benefit the area. We are extremely proud to move one step closer to delivering this project, and furthering the Aventura Health District.”
Cervera Real Estate is the exclusive brokerage for 12|12 Aventura’s office condos, forty percent of which are already sold and under contract. Construction is being led by Winmar Construction, an affiliate of Coastal Construction. The development is expected to be completed in 2022.
By Isabella Zimmermann
Tracking COVID-19 By The Numbers: Breaking News In South Florida
(Last Updated 6:14 AM 3/27/2020):
BREAKING:
City of Miami officials have announced a curfew for its residents that will begin Friday night. According to officials, all residents must be indoors from 10 p.m. until 5 a.m. (3/27/2020)
Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business 9 PM Thursday. (3/20/2020)
All U.S. Citizens traveling around the world should return home ASAP or be prepared to stay abroad for an indefinite period. (3/19/2020)
Continue to check back for updates to below as we continue to track COVID-19 across South Florida:
Stats:
Number of Cases in Florida: 830+ (3/23/2020)
Fatalities in Florida: 13+ (3/23/2020)
Number of Global Cases: 351,000+ (3/23/2020)
Global Fatalities: 15,321+ (3/23/2020)
Number of U.S. Cases: 35,075+ (3/23/2020)
Fatalities in the U.S.: 458+ (3/23/2020)
Miami-Dade County:
Miami-Dade County # Cases: 2900+ (3/27/2020)
BREAKING: Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business (3/20/2020)
CONFIRMED CASES IN BRISTOL TOWER BRICKELL & SOHO BEACH HOUSE (3/19/2020)
Officials have ordered the closure of all restaurants, bars, movie theaters, concert houses, auditoriums, playhouses, clubs, gyms, arcades, bowling alleys, etc. which will go into effect 11 PM Tuesday. All grocery stores, pharmacies, take-out and delivery services will remain open at this time (3/17/2020)
All bars and nightclubs will be closed for 30 days.
Restaurants will only be able to operate at half capacity.
Exceptions granted if they have a capacity of 10 people or less.
Mayor Carlos Jimenez signed the emergency order, but remains in self-quarantine after being exposed to a Brazilian government official who tested positive following a visit to South Florida.
Miami-Dade Public Schools are now closed through at least April 15. (3/19/2020)
Miami-Dade Public Schools have closed this week and next. (3/16/2020)
Key Biscayne and North Miami Beach have implemented curfew between 10 PM and 5 AM (3/19/2020)
Officials have closed the beach from 5th to 15th Street, including Lummus Park.
All city parking garages are closed to non-residents.
In addition, all non-essential retail stores will be required to close at 10 p.m. daily. (3/16/2020)
Businesses excluded from this directive include: Pharmacies, grocery stores, convenience stores, private offices, banks, hotels, hospitals, medical service providers, medical supply stores, hardware stores, gasoline service stations and automotive supply and repair centers.
An entertainment district curfew will go into effect at 11 p.m.
All restaurants are asked to keep occupancy at 50% or less, and have under 250 people in each establishment at any given time.
Ultra Music Festival has been cancelled.
Miami Music Week has been cancelled.
ArtScape Concert has been cancelled.
The Miami Open Tennis Tournament has been cancelled.
University of Miami & FIU have moved classes online until the end of the spring semester. (3/20/2020)
University of Miami Spring Commencement postponed until December. (3/20/2020)
The Hardrock Seminole Hotel & Casino has suspended entertainment operations.
Calle Ocho Festival has been cancelled.
Mayor Francis Suarez has confirmed that he has COVID-19.
Broward County:
Broward County # Cases: 180+ (3/23/2020)
Broward County Public Schools are now closed through at least April 15. (3/19/2020)
Officials have closed the beach from Harbor Beach to Oakland Park Boulevard.
Restaurants and bars must close by 10 p.m.
Restaurants and bars are asked to operate at 50% capacity and have no more than 250 people at any time.
The Tortuga Music Festival, which was set to run from April 17-19, has been postponed.
The Wharf Fort Lauderdale is closed until further notice.
The listed measures will remain in effect until April 12.
Palm Beach County:
Palm Beach County # Cases: 59+ (3/23/2020)
Town of Palm Beach implements curfew until further notice from 9 P.M. - 6 A.M. (3/18/2020)
Palm Beach County Public Schools are now closed through at least April 15. (3/19/2020)
Beaches will be closed on Tuesday 3/17/2020
Nursing Homes and Assisted Living Facilities are closed to visitors.
Drive-through testing underway at FoundCare (2330 S. Congress Ave, West Palm Beach - call 561-967-0365 to see if you qualify and for appointments)
National:
BREAKING: The Federal Government has passed a $2.2 trillion stimulus package.
United States of America # Cases: 35,075+ (3/23/2020)
United States of America Fatalities: 458+ (3/23/2020)
Income tax filing deadline moved to July 15 (3/20/2020)
Foreclosures and HUD evictions have been halted for 60 days.
CDC recommends ban on gatherings of 10+ people.
The Players Championship was cancelled & PGA Tour is suspended.
NBA, NHL, MLB and MLS have suspended their seasons.
All ski resorts have closed.
Coral Rock Development Group & Arena Capital Holdings Acquire Prospect Towers in Clearwater For $13.5 Million
The Miami-based Coral Rock Development Group and Arena Capital Holdings have acquired Prospect Towers, a downtown Clearwater, Florida senior living high-rise for $13.5 million. Well-positioned in an Opportunity Zone, the 17-story, multifamily building is located at 801 Chestnut St. and is comprised of 208 independent senior living units.
The Miami-based Coral Rock Development Group and Arena Capital Holdings have acquired Prospect Towers, a downtown Clearwater, Florida senior living high-rise for $13.5 million. Well-positioned in an Opportunity Zone, the 17-story, multifamily building is located at 801 Chestnut St. and is comprised of 208 independent senior living units. Situated within close proximity to the Intracoastal Waterway and Memorial Causeway, the property is set on 2.3 acres and boasts a compelling unit mix of efficiencies and one-bedroom floor plans. Full-service amenities include a recreational room, library, business center, gym, and community kitchen, while each residence features expansive wall-to-wall windows with exceptional views of the Gulf Coast beaches, downtown Clearwater, and the surrounding area.
Coral Rock Development Group and Arena Capital Holdings plan to jointly upgrade the aesthetics of the common areas throughout the property as well as enhance the interiors of a portion of select units. Innovation Senior Management will manage operations of the building on behalf of the owners, and will also implement new services for residents including home health and physician visits, and educational and social programs to enrich the overall living experience.
“We are very pleased to expand Coral Rock’s footprint with the acquisition of Prospect Towers, the second asset that we own and operate in partnership with Arena Capital Holdings,” said Stephen Blumenthal, principal of Coral Rock Development Group. “This acquisition aligns with our growth strategy and further strengthens our ownership presence in the state of Florida and we look forward to providing residents with a value-add program and building upgrades throughout.”
“We are continually seeking investment opportunities within prime Florida locations and Prospect Towers is an exciting addition to our growing portfolio,” added Oscar Rodriguez, Manager of Arena Capital Holdings.
Fouquet’s Hotel & Residences, Miami Design District has unveiled more than 40,000 square feet of amenities designed by RDAI, the Paris-based studio behind Hermès stores worldwide. The 143-residence development pairs rooftop leisure and wellness spaces with direct access to an 85-key Fouquet’s hotel.