Irvine, Calif.-based Standard Pacific Homes has purchased 34 homes for $8.8 million at the Oaks at Boca Raton, the Sun Sentinel reported. Kenco Communities sold the properties within the 469-unit development.
The Oaks “fit perfectly with that overarching strategy,” Dan Grosswald, Standard Pacific’s South Florida division president, said. “It’s a country club community without the golf course and the equity expense.”
Standard Pacific told the Sentinel that it expects an average prices above $900,000. [Sun Sentinel] –Christopher Cameron