Integra Investments Buys West Palm Marina For $72M – Commercial Observer
The Huizenga family has sold a marina in West Palm Beach, Fla., to Integra Investments for $72.4 million, property records show.
The asset, called Safe Harbor Rybovich, spans 15 acres at 4200 North Flagler Drive, between 38th and 44th streets, facing the Intracoastal Waterway.
Last year, Huizenga Holdings filed plans to build a 2.6 million-square-foot, mixed-use development at the site, which officials approved. The proposal calls for the construction of four condo towers with 660 units in total as well as 20,691 square feet of office space, 37,445 square feet of retail, 14,376 square feet of restaurants, 12,750 square feet of crew amenities and 3,355 square feet of marine storage.
Upland Debt Lender provided a $75 million floating-rate loan to multiple affiliates backed by different components of the future development, including a marina, retail space, condominiums and a parking garage.
The project marks the first in West Palm Beach for Integra, a prominent Miami-based developer, and the latest for the city’s waterfront. Just north of the marina, Related Group completed the Icon Marina Village luxury rental complex in 2023.
Other luxury condo projects in the pipeline include Related Ross’s Edgeworth, Shorecrest and South Flagler House, the last of which remains under construction, as well as Savanna’s Olara.
Huizenga Holdings, led by H. Wayne Huizenga Jr., manages the Huizenga family’s private businesses and real estate. Late patriarch Wayne Huizenga founded AutoNation, among other companies, and had owned the Miami Dolphins and the Florida Panthers sports franchises.
A representative for Huizenga Holdings could not be reached for comment, while a spokesperson for Integra has yet to provide comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
