Dream Finders Homes is moving into Palm Beach County.
The Jacksonville-based homebuilder primarily operating in north and central Florida bought 60 lots in Riviera Beach for $12 million from The Estate Companies, according to a news release, underscoring demand to get in on the booming South Florida market.
The deal worked out to about $198,000 per lot.
The site on North Military Trail is planned for new construction townhomes known as the Townes at Avian, located next door to Estate Cos.’ Soleste on the Trail development at 7920 North Military Trail. The two developments are planned to share amenities.
Tom Godart of Godart Florida Real Estate brokered the deal. Major job and economic growth in the county — most notably driven by Steve Ross’ investments in West Palm Beach — attracted the homebuilder to the area, Godart said.
The townhouses are planned to range from 1,600 to 1,700 square feet and be priced around $400,000. Soleste on the Trail will consist of one-bedroom and two-bedroom apartments, ranging from 700 square feet to 1,000 square feet.
Robert Suris and Jeffrey Ardizon’s Estate Cos. secured a $60 million construction loan for the 255-unit Soleste complex last year. The company bought the 15.8-acre site for $8 million in 2021, records show.
Dream Finders, led by CEO and Patrick Zalupski, is acquiring Atlanta-based homebuilder Beazer Homes in a transaction worth about $2.2 billion. Dream Finders made several bids on the Beazer before reaching a deal in August.
Zalupski is the new owner of the Tampa Bay Rays and is spearheading efforts to build a new stadium in Tampa.
Other projects planned for Riviera Beach included Related Group’s eight-story, 149-unit apartment complex at 57 East 12th Street and New York-based O’Connor Capital Partners’ Marina Annex, a mixed-use apartment project with 175 units, 6,500 square feet of retail and a 15,000-square-foot community center at 251 West 11th Street.
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