According to available real estate documents, the Huizenga family has sold a marina in West Palm Beach, Florida, to Integra Investments. The transaction price amounted to $72.4 million. The property, known as Safe Harbor Rybovich, covers an area of 15 acres and is located at 4200 North Flagler Drive, between 38th and 44th Street, directly on the Intracoastal Waterway.
This acquisition marks the first project in West Palm Beach for Integra, a renowned developer from Miami, and represents another significant development for the city's waterfront.
Comprehensive Development Approval
Huizenga Holdings had submitted plans for a comprehensive mixed-use development on the site in the previous year, which were approved by the authorities. The design envisages the construction of four condominium towers with a total of 660 residential units.
- —20,691 square feet of office space
- —37,445 square feet of retail space
- —14,376 square feet of restaurant space
- —12,750 square feet of crew amenities
- —3,355 square feet for marine storage purposes
To finance this extensive undertaking, Upland Debt Lender provided a variable-rate loan of $75 million. This loan was granted to several affiliated companies, secured by various components of the future development, including the marina, retail space, condominiums, and a car park.
Waterfront Expansion
West Palm Beach's waterfront is currently experiencing significant development activity. Immediately north of the acquired marina, the Related Group completed the luxury rental apartment complex Icon Marina Village in 2023. Other planned luxury condominium projects include Edgeworth by Related Ross, Shorecrest, and South Flagler House, the latter still under construction. Olara by Savanna is also among the future projects set to shape the cityscape.
Huizenga Holdings, under the leadership of H. Wayne Huizenga Jr., manages the private affairs and real estate portfolios of the Huizenga family. The late patriarch Wayne Huizenga was the founder of AutoNation and other companies. He also owned the sports franchises Miami Dolphins and Florida Panthers. A statement from Huizenga Holdings was not obtainable; a spokesperson for Integra has also not yet commented.
