Kolter Group spent another $26 million in a Palm Beach Gardens master-planned community.
The Delray Beach-based homebuilder picked up 222 homesites across two transactions in Landstar Development Group’s massive Avenir community.
A Kolter entity paid $16.6 million for 144 sites on Aug. 18, public records show. The next day, it paid $9 million for another 78 sites.
The group has spent more than $117 million on the 4,800-acre master-planned neighborhood northwest of West Palm Beach. That includes its acquisition of 144 lots for $18 million in 2023 and 491 sites for $73.6 million two years ago.
The group has completed two neighborhoods in the community, with homes priced above $800,000.
The greater Avenir community opened in 2020 and is planned for 3,900 residential units of mostly single-family homes, 400,000 square feet of retail space, 1.8 million square feet of offices, a 300-key hotel, a 2,400-acre nature preserve and the private Panther golf course.
Coral Gables-based Landstar is led by partners Rudy Stern, David Serviansky, Roberto Horwitz, Eduardo Stern, Bernard Eckstein and Rosa Eckstein Schechter. Kolter is led by CEO Bobby Julien.
Other major developers who own sites in the community include Sunrise-based GL Homes, which dropped $28.1 million for 42 sites, and the PulteGroup’s DiVosta Homes, which paid $40.3 million for 62 sites.
Sales for single-family homes in Palm Beach County were up 12.7 percent year-over-year last month, and supply was decreasing, according to Miami Realtors.
Avenir isn’t the only master-planned target for Kolter in Palm Beach County. In 2019, it paid $52 million for 270 acres in the Westlake development of western Palm Beach County. Kolter kicked off construction on a Delray Beach apartment complex in June after securing $91.7 million in financing.
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