Orchid Grove

13th Floor acquired Orchid Grove through a foreclosure acquisition in April 2010. Orchid Grove consists of 62 townhomes and 322 partially-developed homesites in Pompano Beach, Florida. 13th Floor completed construction and sold the townhomes to a “bulk” investor and then revised the site plan and completed development of the remaining homesites, ultimately selling the homesites to a national homebuilder through staged takedowns. 13th Floor also acquired and resold the CDD bonds that funded this community.