13th Floor Homes Sold Delray Beach Rental Community
Robbins Property Associates acquired the 74-unit complex in Delray Beach for $29.3 million.
Updated on Oct. 1, 2026 in Apartments
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13th Floor Homes has sold a rental community located at 14800 Cumberland Drive in Delray Beach for $29.3 million. The buyer, Tampa-based Robbins Property Associates, acquired the site as part of its strategy to serve the region's demographic demand.
Why it matters
The community was designed to provide high-quality, low-maintenance housing options for an aging population. Investors are increasingly targeting such properties to capitalize on the wealth and housing preferences of residents aged 55 and older.
The property at 14800 Cumberland Drive includes 74 single-story attached homes ranging from 1,300 to 1,450 square feet. Amenities feature a clubhouse, gym, pool, pickleball courts, and tennis courts.
The players
13th Floor Homes
This real estate development firm is headquartered in Miami and focuses on residential and commercial projects.
Robbins Property Associates
Based in Tampa, this firm manages a portfolio of approximately 4,800 apartment homes across various markets.
Walker & Dunlop Capital Markets Investment Sales
This entity provides financial services and investment sales brokerage for commercial and residential real estate assets.
The details
The development was built to cater to a 55-plus demographic, offering a combination of privacy and community-focused recreational space. Walker & Dunlop Capital Markets Investment Sales represented 13th Floor Investments during the brokerage of the transaction.
Timeline
October 1, 2026: The property sale was reported.
Culture Shift
This sale highlights the ongoing shift toward age-restricted rental communities as a staple of modern suburban housing portfolios. It reflects how developers are increasingly tailoring developments to meet the lifestyle demands of an aging, affluent population in Florida.
Residents of the 55-plus community may see changes in property management policies as the new ownership integrates the asset into its portfolio of 4,800 units. The transaction underscores the continuing appeal of high-end, maintenance-free rental living for retirees in the area.
The takeaway
Real estate investors continue to prioritize age-restricted properties that offer comprehensive amenities like pickleball and tennis. Homeowners and renters in these demographics should anticipate sustained institutional interest in their housing markets.
Further reading
For more on the local market, visit Delray Beach Apartments.
Source note: This article includes information reported by The Real Deal New York.
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