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Toll Brothers acquires Palm Beach Gardens, Fla., property for $31M

Toll Brothers Inc. paid $31 million for a property in Palm Beach Gardens, Fla., that will be developed into 469 single-family houses in an adult community, The Real Deal reported.

The seller was Avenir Development, which is led by Landstar Development, according to the publication.

The Regency at Avenir is set to be the third community to be built by the homebuilder in the 4,783-acre Avenir master-planned development.