Kamson buys Ponte Verde at Palm Beach Lakes in West Palm Beach
Marcus & Millichap’s IPA brokered Kamson’s USD 90.5 million purchase of the 400-unit Ponte Verde at Palm Beach Lakes in West Palm Beach.
The deal ranks among Florida’s largest condominium-to-multifamily rental conversions, positioning the asset for a deconversion into a rental community.
The transaction was driven by rising maintenance costs, Florida Building Safety Act reserve requirements, rising operating expenses, and strong local housing demand.
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