Private equity boss buys Wellington spec mansion for $10M

Seller, a retired hedge funder, bought property for $725K in 2012

12428 Cypress Island Way (Google Maps, Getty)
12428 Cypress Island Way (Google Maps, Getty)

A private equity boss bought a spec mansion in Wellington for $9.5 million from a retired hedge funder.

Records show Marc Denis Oken, as trustee, bought the house at 12428 Cypress Island Way from Cypress Equestrian LLC, managed by Maurice Perkins III.

Oken co-founded the Charlotte, N.C.-based private equity firm Falfurrias Management Partners with Hugh McColl Jr. in 2006. Prior to that, Oken was CFO of Bank of America, and McColl was the bank’s CEO and chairman. Oken’s daughter, Alise Oken, is a show jumper.

Perkins is the retired co-founder of MPK Capital Management, a New York-based hedge fund that oversees a multibillion-dollar portfolio. He retired in 2011, according to a company announcement. Perkins’ wife Debbie Perkins is an equestrian and rides in Wellington.

David Welles of Equestrian Sotheby’s International Realty represented the seller, and Mark Norman of Douglas Elliman brought the buyer.

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Records show Perkins bought the property for $725,000 in 2012. The listing states the 8,845-square-foot home was completed last year. The mansion includes five bedrooms and six and a half bathrooms and sits on 0.7 acres in the Cypress Island community, near the Cypress Golf Club and the Palm Beach Polo Club.

Perkins also owns the equestrian estate at 14775 Equestrian Way, according to records. The 7.3 acre property is on the market for $22.5 million. Records show Perkins bought it via an LLC in 2011 for $3.3 million. Welles has the listing, which shows the estate includes seven bedrooms and 14 bathrooms, as well as a barn with 14 horse stalls.

The horse-dominated city of Wellington is gearing up for its busy winter season, when the global equestrian community gathers for several months of polo and jumping competitions. It is a busy time for real estate there, as well.

This month, an Irish jumper sold his equestrian estate for $14 million. A former Enron executive sold his equestrian estate in May for $8 million. Bill Gates sold an equestrian estate for $26 million in March.

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