Investment firm manager moves to Palm Beach Gardens

Douglas E. Schimmel and his wife, Michele, bought a three-bedroom, four-bath home at 212 Montant Dr. in Palm Beach Gardens from Hans and Sylvia Dirkmann for $980,000 on Aug. 15.

The Dirkmanns paid $739,704 for the property in February 2004.

Mr. Schimmel is a portfolio manager for long/short credit funds at Sandler Capital Management, a New York-based investment adviser. He served as research analyst and leads credit analysis for the firm's hedge fund team.

He joined the company in 1994.

Prior to joining Sandler Capital, he worked at Merrill Lynch as an equity research analyst in the cable television and broadcasting industries. Earlier, he served at Wertheim Schroder & Co. as an analyst and portfolio manager focusing in media, telecommunications, and package food and beverage company investments.

He obtained his B.A. from the University of Miami.

Mrs. Schimmel has worked as an associate counsel and assistant vice president of Anchor Savings Bank in New York.

She graduated from Emory University and received her J.D. from St. John's University.

Home sales in Palm Beach Gardens are down 15 percent in 2008 compared to sales in 2007. The median sales price also dropped from $320,000 to $307,000 so far this year.

Address: 212 Montant Drive
Buyer(s): Douglas E Schimmel and Michele C Schimmel
Seller(s): Hans W Dirkmann and Sylvia Dirkmann
Sale date: 2008-08-15

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