Beneath-renovation dwelling bought for $28.5 million in Palm Beach, deed displays

The developer whose investment group in January paid nearly $13 million for a 1980s-period seaside home in Palm Beach – and then embarked on a renovation for resale — has offered the property while in building. The value recorded at $28.5 million for the estate at 870 S. Ocean Blvd.

The deal closed Friday, seller Todd Michael Glaser advised the Palm Beach Day by day News.

The deed lists the consumers as California investor Kevin Douglas and his spouse, Michelle, as trustees of the K&M Have faith in. The couple has an deal with north of San Francisco in Kentfield, California, the deed shows.

Kevin Douglas established and is chairman of Douglas Telecommunications, a relatives financial commitment office through which he manages the Douglas family’s diversified financial commitment portfolio, in accordance to a brief on line biographical sketch. His portfolio has provided key investments in IMAX Corp., the massive-monitor film-technologies and theater organization, in which he sits on the board of directors.

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