Toll Brothers Inc. acquired 217 lots in the Avenir planned development in Palm Beach Gardens, Fla., for $21.7 million, The Real Deal reported, citing property records.

The luxury homebuilder bought the lots from Avenir Development, which is affiliated with Landstar Development Corp., the project's primary developer, according to the report.

The 4,783-acre community secured an approval to accommodate about 3,000 single-family homes; 400,000 square feet of commercial space; and 1.94 million square feet of office space, the publication noted. Construction will be completed over 30 years.