PGA National Resort & Spa Sold for $425 Million

News Summary

The PGA National Resort & Spa in Florida has been acquired by a new investor group for $425 million. Known for its exquisite golf experience, the resort features the Champion Course and luxurious amenities. The new owners plan significant enhancements to the resort, which already boasts a rich history of hosting premier golf tournaments. This sale reflects ongoing investment in upscale golf facilities, promising exciting upgrades and opportunities for guests and golf enthusiasts alike.

PGA National Resort & Spa Changes Hands for a Whopping $425 Million

Big news on the golfing front! The renowned PGA National Resort & Spa, located in sunny Florida, has been snapped up by an investor group for approximately $425 million. This sprawling resort, which stretches across 807 acres, is not just any ordinary vacation spot—it’s home to the famous Champion Course, where the upcoming Cognizant Classic tournament will kick off on February 27.

A Star-Studded Buyer Team

The new ownership team includes prominent players like Henderson Park, South Street Partners, and Salamander Hotels & Resorts. These groups are no strangers to grandeur and hospitality, and with their combined experience, they aim to take PGA National Resort to new heights. The previous owner, an affiliate of Brookfield Asset Management, has certainly handed over the keys to a prized gem in the golfing world.

What’s Inside PGA National Resort & Spa?

PGA National isn’t just about great golf; it brims with amenities designed to pamper guests and residents alike. Imagine a place with 5,000 single-family homes and townhouses, a luxurious 339-room hotel, gourmet restaurants, a massive 40,000-square-foot spa, and a top-notch sports and racquet club. This is luxury living at its finest!

The Golfing Experience is About to Get Better

The new owners have big plans in mind. They intend to add a shiny new pool and incorporate significant enrichments that promise to elevate the overall golf experience. With such extensive renovations previously underway, including a $100 million overhaul completed by Brookfield Hotel Properties, the possibilities seem endless. Who wouldn’t want to swing their clubs surrounded by stunning landscapes and high-end facilities?

A Rich History in Golf

The PGA National Resort first opened its doors in 1981 and has since made a name for itself by hosting illustrious tournaments like the PGA Championship, Ryder Cup, and Senior PGA Championship. Many of its courses were designed by legendary golfers Jack Nicklaus and Arnold Palmer, making it a hallowed ground for golf enthusiasts. No wonder this beautiful venue is such a sought-after location!

Recent Financial Activity

Adding to the buzz, earlier this year, Wells Fargo issued a single-asset commercial mortgage-backed security loan specifically for the resort. This indicates a solid investment, hinting at the financial viability of one of the most famous golf resorts in the country.

The Path to Ownership

Interestingly, Brookfield Hotel Properties only acquired PGA National Resort in 2018 for approximately $230 million. Since then, substantial capital has been poured into the resort, showcasing its potential as a premier destination for golfers and holidaymakers alike.

What’s Next for South Street Partners?

South Street Partners is also keeping busy, having recently picked up another golf treasure—the King & Prince resort in St. Simons Island, Georgia, for around $50.4 million. This knack for acquiring and enhancing upscale properties positions them well for their future endeavors.

In Conclusion

The sale of PGA National Resort & Spa not only highlights the ongoing investment in upscale golf facilities but also opens the door for exciting developments in this beloved community. So, whether you’re planning to hit the greens or just seeking a luxurious getaway, you can expect more thrilling upgrades coming your way in this golfing paradise!