Kenneth Griffin, president and CEO of Citadel Investment Group, has struck some big real estate deals in Palm Beach, Florida. The hedge fund mogul has purchased four sprawling properties in the area worth $130 million.
According to the public records, Griffin had penned down deeds of all the four properties, late in December 2012. Lawrence Moens of Lawrence A. Moens Associates had brokered all the four deals, reports Wall Street Journal.
The properties are located in the subdivision of Blossom Estate, near the Bath and Tennis club in Palm Beach. Three of the residences are ocean front homes while the fourth home is a landlocked residence located just behind the southernmost beach-front home. The homes range from 2.21 acres to 1.64 acres in size and together take up 8 acres of land.
Griffin bought the landlocked home for $14.3 million while the ocean-side property in front of it cost him around $35.7 million. May Bolton, widow of famous philanthropist Kenyon Bolton, was the owner of both the properties, reports Real Estalker.
The northernmost beach-front residence belonged to former president of Lectron Products, Walter McPhail, which Griffin purchased for around $37.95 million. The other residence was sold to him by a trust for $41.3 million, reports Market Watch.
Late in November 2012, Griffin also dropped around $15 million on a posh top floor condo/penthouse in the Park Tower Building in Chicago. The sale was Chicago's most expensive condo transaction till date, reports Chicago Tribune.
Griffin ranks #377 on Forbes "Billionaires List" and his estimated net worth is around $3.1 billion. Through the first half of 2012, funds of Citadel were up nine percent. However, in the second quarter of 2012, the firm announced that it had incurred narrow losses.
In November, Citadel also trimmed down on its office space at Citadel Center in Chicago.
