Hedge fund executive Saunders buys Highland Beach mansion for $35M (Photos)

Hedge fund executive Saunders buys Highland Beach mansion for $35M (Photos)

Paul H. Saunders , a founder and CEO of hedge fund James River Capital Corp., and his wife, Victoria B. Saunders , who previously worked in human resources, paid $34.7 million for an oceanfront mansion in Highland Beach.

The estate of the late Mark E. Hamister , with Daniel M. Hamister of Buffalo, New York as representative, sold the 13,679-square-foot home at 2445 S. Ocean Blvd. Gerard Liguori , Joseph Liguori and Carmen D’Angelo of Premier Estate Properties represented the seller in the deal, while Marcy F. Javor of Signature One Luxury Estates worked with the buyers. The price equated to $2,537 a square foot.

The home last traded for $12.5 million in 2014, so it nearly tripled in value. That’s a reflection of the strong demand for oceanfront homes in Palm Beach County.

Built on the 1.19-acre site in 1999, the home features seven bedrooms, eight bathrooms, three half-bathrooms, an auto museum with room for eight vehicles, a pool, an outdoor fireplace, two catering kitchens, a wine room, a bar, a gym, a massage room, a sauna, a child’s play room, and a two-story rotunda foyer enhanced in Macedonia stone.

Mark Hamister died in August 2021 at 69. He was the founder and CEO of Buffalo-based Hamister Group, which owned hotels and assisted living facilities. However, the Highland Beach home was his homestead address.

As for the buyers, Paul Saunders has led James River Capital Corp. in Manakin-Sabot, Virginia since 1995. Victoria Saunders is on the board of the Innerwork Center, a nonprofit learning center in Virginia.

In December, the Saunders sold an oceanfront mansion in Manalapan for $89.93 million, so the purchase of the Highland Beach home was actually a downsizing for the couple.

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