Redfearn sells Palm Beach building for more than 2X last year’s price
Just a year after acquiring a Palm Beach office and retail building, Delray Beach-based Redfearn Capital is selling it for $18 million and more than doubling its investment. That’s more than double what it paid for the property at 317 Peruvian Avenue last year, when an entity linked to Alex Redfearn and his real estate investment firm bought the site for $8.4 million. The price for the low-rise Mediterranean Revival building works out to $2,780 per square foot. Redfearn expected the 6,500-square-foot office and retail building to be a long-term hold. But the buyer, whose identity hasn’t been made public, […]This article originally appeared on The Real Deal. Click here to read the full story.
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