Investment firm founder Sahm Adrangi paid $15 million for a waterfront home on the Venetian Islands in Miami Beach.
Adrangi, founder and chief investment officer of Kerrisdale Capital Management, closed on the acquisition of the four-bedroom, 5,330-square-foot house at 21 East San Marino Drive, according to property records obtained by The Real Deal.
Adrangi relocated to Miami Beach last year, public records show. His firm moved its headquarters from New York, another example of companies and their executives making a bet on the Sunshine State. Kerrisdale managed about $750 million as of April, according to Adrangi’s biography.
John Hilliard and Christine Bruce sold the Venetian Islands home to Adrangi’s Red Marine Trust. Hilliard owns Hilliard Bruce Vineyards in California, according to his LinkedIn.
Chad Carroll and Eli Faitelson represented the buyer and seller in the deal.
The house was designed by Peter Bohlin, an award-winning architect also responsible for the Apple Store on Fifth Avenue in New York and Bill Gates’ mansion in Medina, Washington. The Miami Beach property has 100 feet of water frontage and a 23-yard second-floor lap pool that hangs over the back yard overlooking the water, according to the listing.
The Venetian Islands, a chain of man-made islands in Miami Beach and Miami, have attracted a number of tech investors. Ed Lando, co-founder of the gifting app Goody, recently paid $15.1 million for a waterfront home on Rivo Alto. That island is also home to PayPal co-founder Peter Thiel, who last year paid $18 million for two adjacent waterfront mansions.