The co-founder of private equity firm Bain Capital bought a waterfront North Palm Beach estate for $16.8 million.
Laura and Geoffery Rehnert purchased a 7,870-square-foot home at 11087 Old Harbour Road for $2,134 per square foot, records show. Diane Bodman of El Paso, Texas, sold the property.
The home, along the Intracoastal Waterway, is in the upscale Lost Tree Village neighborhood of North Palm Beach.
The property last sold for $9.8 million in 2012, records show. The house was built in 2000 and was renovated five years ago. It has six bedrooms and eight bathrooms.
Rehnert, who co-founded Boston, Massachusetts-based Bain Capital with Mitt Romney in 1984, helped initiate Bain Capital’s leveraged acquisition efforts, and served on the boards of over 25 portfolio companies. Rehnert is currently the co-CEO and co-founder of the Boston-based private equity firm Audax Group.
Lost Tree Village has attracted a number of wealthy buyers. Thomas Hagerty, managing director at private equity firm Thomas H. Lee Partners, and his wife Jeanne, paid $7.25 million or $1,420 per square foot in 2018 for a home at 12087 Turtle Beach Road.