Integra Investments, a Miami-based real estate investment firm, recently acquired the Monaco Isles apartment complex in West Palm Beach for $55.4 million. The 317-unit complex, located at 800 The Pointe Drive, was sold by Axonic Properties and financed through a $41 million loan from Keybank that matures on November 1st, 2029. This equates to a price of $174,952 per unit.
Built in 1987 on an expansive lakefront property spanning over 18 acres and totaling over 302,000 square feet of space , Monaco Isles offers residents luxurious amenities such as a pool with jacuzzi , fitness center , clubhouse , business center , playgrounds for children and dogs alike.
Integra Investments is known for investing across various asset classes including mixed-use developments as well as affordable housing options like market-rate rentals . They also have experience with residential condos offices marinas hotels retail spaces since their establishment in the year of two thousand twelve (2012). On the other hand,Axonic Properties has been operating since its inception back then too; they have managed to build up an impressive portfolio worth more than one point six billion dollars ($1.6B) which includes diversified assets within the residential sector.
