A trio of investors, Key International, Integra Investments have partnered with affiliates of Wexford Capital to purchase one of the last remaining developable waterfront tracts in east Boca Raton. The three acre tract of land was acquired from the Blackstone Group for $17.3 million. The location along S. Ocean Blvd. has been pre-approved for the construction of a low-rise, luxury residential condominium project. It faces Lake Boca Raton and within walking distance of the Boca Beach Club. Holliday Fenoglio Fowler’s Executive Managing Director Manny De Zarraga, Managing Director Jaret Turkell and Associate Simon Banke represented the seller in the transaction. “This was a competitive land purchase of one of the last prime waterfront parcels in South Florida. There is a strong appetite for new luxury product in east Boca Raton, and we look forward to soon sharing our development plans,” said Inigo Ardid, co-president of Key International, in prepared remarks.
