Insurance tycoon sells Palm Beach mansion for $21M

The president and CEO of an international brokerage firm sold his Palm Beach mansion for $20.75 million.

Records show Mark Freitas and his wife, Mary, sold their property at 201 El Vedado Road to Mark D. Kairalla, a trustee of the 201 El Vedado Land Trust. Kairalla is an attorney at Tittle, Kairalla & Logan, Pl. Kairalla also took out a mortgage on the home for $13.9 million. Robert and Susan B. Bishop also signed for the loan.

Robert Bishop, known as Bob, is the chief investment officer of Impala Asset Management, an investment management firm he founded in 2004. The firm has offices in New Canaan, Connecticut; New York City; and Palm Beach.

The Freitas family bought the property in 2002 through True 680 LLC, for $3.3 million, according to records. The house was built on the 0.64-acre lot in 2006.

The two-story home spans 11,497 square feet and has seven bedrooms, eight full bathrooms, two half-bathrooms and a pool.

Freitas is president and CEO of Mark Edwards Partners, a brokerage firm that covers insurance for corporations, individuals and families, according to its website. It has offices in New York City, Palm Beach, Beverly Hills and London. Freitas and his wife also established The Mark & Mary Freitas Foundation.

This sale is among many recent home sales in Palm Beach. The artist and owner of the high-end brand Michael Aram paid $5.2 million for a house in Palm Beach, an heir to the Goya Foods fortune bought a home for $11.3 million and a real estate financier spent $5.8 million on a house.