The Real Deal Miami

Boynton Beach rental building sells for $21.5M

December 30, 2013 10:30AM

Peninsula on the Intracoastal in Boynton Beach

Peninsula on the Intracoastal in Boynton Beach

The Peninsula on the Intracoastal apartment building in Boynton Beach has traded for $21.5 million, The Real Deal has learned.

Boynton Real Estate, a partnership between Boca Raton’s Altman Companies and Miami-based Integra Solutions, sold the 2649 North Federal Highway building on Thursday, according to Palm Beach County records. It paid $8.3 million for the property in September 2010. The 70-unit Peninsula building was completed on 3.5 acres last year.

Peninsula Boynton Property of Coral Gables is the buyer. State corporate records show the company is managed by Rene Brillembourg. No financing was recorded.

Amenities at the gated rental community include a resort-style pool and jacuzzi, outdoor sports bar and clubhouse, according to Peninsula’s website. An adjacent marina is available for residents with boats. — Eric Kalis