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Lennar buys remaining lots at Fla. residential development for $19M

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Lennar buys remaining lots at Fla. residential development for $19M

Lennar Corp. purchased the remaining home lots in the Arbor Parc development in Riviera Beach, Fla., for nearly $19.3 million from Mediterranea Palm Property Subsidiary, a partnership between BTI Partners and 13th Floor Investments LLC, the South Florida Business Journal reported.

The consideration paid for the 309 ready-to-build townhome lots at 4046 Woods Edge Circle translates to $62,282 per home lot.

Arbor Parc has permission in place for 500 single-family homes and townhomes, the May 24 report added.