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The Carlisle Palm Beach Sells for $64.5 Mil.

Group Buys Three Building Portfolio
By Brent Mathis
January 11, 2006 | 9:42 P.M.

Palm Beach Club LLC purchased The Carlisle Palm Beach, a retirement community, at 450 East Ocean Ave. in Palm Beach. The property was purchased for $64.5 million or about $207 per square foot from Carlisle at Lantana LP. The 7.1-acre property consists of three buildings, which total 311,983 square feet. At the time of the sale the buildings were 35% occupied. This was a direct deal between the buyer and seller.

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