Worth a Whopping $46,000,000 Combined, Two Mega Equestrian Estates Switch Hands in a Plan for the Future

The village of Wellington, in Palm Beach County, Florida is known around the world for its equestrian community and events. The largest and longest horse running show the Winter Equestrian Festival is held here. The area is also home to many lavish equestrian properties with millions of dollars and prime investment destination for business moguls all over the world.

Recently, an investment group belonging to a South American family has roped in an equestrian property worth millions of dollars. The deal involves famed developer Mark Bellissimo’s ex-wife Katherine Kaneb. These major investments are done with the aim to be better placed in Welligton’s future upcoming proposed project.

Equestrian estate deals worth millions

The Maharshi Properties LLC is a South American family investment group and is a Delaware-based entity. They have sold their two equestrian estates situated at 15255 and 15101 Estancia Lane to another Delaware-based LLC for $ 19.5 million. The group then purchased Mark Bellissimo’s ex-wife Katherine Kaneb’s equestrian estate situated at 13893 Gracida Street for $21.9 million. The same investment group also sold Katherine Kaneb a house in the Palm Beach Polo & Country Club for $5 million.

This whole purchase of the equestrian estate was worth $46.4 million. The Illustrated Properties‘s agent Rodolfo Maya represented the Maharshi Properties LLC in these deals whereas Maria Mendelsohn of Douglas Elliman represented Kaneb and the Estancia Lane buyer. According to Rodolfo Maya, his client has connections in the equestrian industry and they did not buy these properties for their own involvement in equestrian sport. But, they have done it for investment purposes. The 13893 Gracida Street property which Katherine Kaneb got after her divorce is situated near the proposed Mark Bellissimo development project.

The 13893 Gracida Street 20-acre property is a rarity for its size and is close to the Palm Beach International Equestrian Center. The site will be closer to the proposed development project which includes the expansion of the festival grounds. The investment group wants to take advantage of the proposed development plan with anticipation that the rental value shall appreciate in the future of the property.

Mark Bellissimo’s development project

Mark Bellissimo and his partner’s new development project is named The Wellington. The project is on more than  600 acres of land and will include single-family homes, condos, a commercial complex with retail, restaurants, office space, and hotels.

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It also has a plan for a massive expansion of the Wellington International equestrian facility and showgrounds. The project is divided into two parts North Wellington and South Wellington. The development project is to be done by Wellington Lifestyle Partners a joint venture between Mark Bellissimo’s Wellington Equestrian Partners and Nexus Luxury Collection. The new project has star backing from the likes of Tiger Woods, Justin Timberlake, and Jeff Skol.

Wellington is regarded as the winter equestrian capital of the world. The millions of dollars worth of deals enhance the investment position for the proposed development project in the horse town.

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