Private equity head buys Boca Raton spec home for nearly $7M
Seller built the home in 2019
The co-CEO of a private equity firm bought a spec home in Boca Raton’s Royal Palm Yacht & Country Club for $6.7 million.
Records show Steven H. Rosen, as trustee of a trust in his name, purchased the house at 246 Princess Palm Road from Robert J. Edwards, whose address links to Boca Raton-based SRD Building Corp.
Rosen is the founder and co-CEO of Resilience Capital Partners, a Cleveland-based private equity firm that makes investments in the $10 million to $75 million range, according to its website. Rosen founded the firm in 2001.
Rosen financed the purchase with a $5.4 million loan from JPMorgan Chase Bank, records show.
Edwards bought the property in February 2019 for $1.7 million, demolished the existing house and constructed a new one, property records show. The home was built by SRD.
In January, Steven R. Dingle, vice president of SRD Building, purchased a house in the same neighborhood for $9.4 million.
The home that just sold was listed in November 2019 for $7 million. David Roberts of Royal Palm Properties represented the seller, and Candace Friis of The Corcoran Group represented the buyer.
The 6,688-square-foot house features five bedrooms, six full bathrooms, and two half-bathrooms. The property also features a three-and-a-half-car garage, a covered balcony and a pool.
Other deals in the Royal Palm Yacht & Country Club this month include Richard Wackenhut buying a mansion for $12.8 million, and the owner of a real estate company selling a spec home for $12.5 million.