Integra Picks Up W. Palm Beach Rental Community

Miami-based Integra Investments acquired the Monaco Isles apartment complex in West Palm Beach for $55.4 million.

Axonic Properties sold the 317 apartments at 800 The Pointe Drive to Integra. Keybank provided a $41 million to the buyer that matures Nov. 1, 2029. The price equated to $174,952 per unit.

Totaling 302,217 square feet, Monaco Isles was built on the 18.2-acre site along a lake in 1987. Amenities in Monaco Isles include a pool, jacuzzi, fitness center, clubhouse, business center, playground, picnic area and dog park.

Integra says it invests across several asset classes, including mixed-use, affordable housing, market-rate rentals, residential condos, offices, marinas, hotels, and retail. Since its inception in 2012, Axonic Properties has owned and operated a diversified portfolio of more than $1.6 billion of residential assets.