Integra Investments Purchases 15-Acre Marina In West Palm Beach From Huizenga Holdings For $72.4M

The transaction involved the acquisition of a 15-acre marina located at 4200 North Flagler Drive in West Palm Beach, FL. The marina was purchased for $72.4 million. The asset will support a planned mixed-use redevelopment project, which includes 660 condominium units, retail, office, restaurant, and marina-related space across a 2.6 million-square-foot waterfront development.

Summary of transaction details:

• Property Type: Marina
• Transaction Amount: $72,400,000
• Buyer: Paulo Tavares de Melo, Nelson Stabile & Victor Ballestas - Integra Investments
• Seller: H. Wayne Huizenga Jr. - Huizenga Holdings
• Loan Amount: $75 million floating-rate loan from Upland Debt Lender
• Market: West Palm Beach, FL
• Acres: 15

The deal involved representatives from both parties, with Paulo Tavares de Melo, Nelson Stabile, and Victor Ballestas directly involved as buyers for Integra Investments, while H. Wayne Huizenga Jr. represented Huizenga Holdings as the seller in this transaction.