Integra Investments, a Miami-based real estate investment firm, has acquired the Monaco Isles apartment complex in West Palm Beach for $55.4 million. The 317-unit property located at 800 The Pointe Drive was sold by Axonic Properties and financed with a $41 million loan from Keybank that matures on November 1, 2029. This equates to a price of $174,952 per unit.
Built in 1987 on an expansive lakefront site spanning over 18 acres, Monaco Isles offers residents amenities such as a pool, jacuzzi, fitness center,
clubhouse,
business center,
playground,
picnic area
and dog park.
Integra Investments specializes in investing across various asset classes including mixed-use developments and properties within the affordable housing market as well as market-rate rentals and residential condos.
Since its establishment in2012,Axonic Properties has successfully owned and operated an extensive portfolio valued at more than$1.6 billion consisting of residential units throughout various markets nationwide.
