Investor Group Pays $149M for Sawgrass Resort
A joint venture of South Street Partners, Dream Finders Homes, Diamond Baseball Holdings and select equity partners acquired the Sawgrass Marriott Golf Resort & Spa located in Ponte Vedra Beach, Florida, for $149 million. Carey Watermark Investors was the seller. The acquisition financing was provided by BDT & MSD Partners’ affiliated funds. The JV will concentrate on elevating the Resort offerings, with plans for a comprehensive renovation.
The Property is situated on approximately 66 acres adjacent to the PLAYERS Stadium Course at TPC Sawgrass, which has hosted THE PLAYERS championship annually since 1982, near the newly delivered PGA TOUR Global Home and PGA TOUR Studios.
Located just three miles from Ponte Vedra Beach, the Resort is comprised of 351 hotel keys, 163 villa keys, approximately 114,000 square feet of meeting space, nine on-site Food and Beverage outlets, a 25,000 square foot full-service spa and fitness facility and the two-acre oceanfront Cabana Beach Club, which includes the 1912 Ocean Bar & Rooftop, with 700 members.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout