Citadel-Linked Company Acquires Palm Beach Property for $83 Million
- Shams Ul Zoha
- July 18, 2023
- 1:10 pm
WHAT YOU SHOULD KNOW
- Citadel-linked company 125 Worth LLC has acquired a property on Palm Beach’s Worth Avenue for $83 million.
- Ken Griffin, the founder of Citadel, has been increasing his business activities in Florida, particularly after relocating the headquarters of Citadel and Citadel Securities to the state.
- With an estimated fortune of nearly $37 billion, Ken Griffin continues to strengthen his business presence in Florida.
125 Worth LLC, a company connected to Ken Griffin’s Citadel, has acquired a property on Palm Beach’s prestigious Worth Avenue for $83 million, as reported by Bloomberg. The purchased property is situated near a former Neiman Marcus store that Citadel intends to convert into an office space. Citadel’s CEO, Gerald Beeson, is reportedly affiliated with the purchasing LLC, as indicated by documents.
Ken Griffin has been actively increasing his presence in Florida after relocating the headquarters of Citadel and Citadel Securities to the state. As part of this expansion, Griffin has not only purchased the Palm Beach property but also has plans to construct an office tower in Miami’s Brickell neighborhood.
Citadel previously took over the former Neiman Marcus building on Palm Beach’s primary shopping street, with the intention of transforming it into an office space. With an estimated fortune of almost $37 billion, Ken Griffin is continuously growing his business footprint in Florida, demonstrating a commitment to further expanding his business operations in the state.
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