PGA National Resort and Spa, a premier destination for golf enthusiasts.
The iconic PGA National Resort & Spa has been sold for $425 million, ushering in a new era for the beloved golf complex. The new ownership group, which includes Henderson Park, South Street Partners, and Salamander Hotels & Resorts, plans significant renovations, including a new pool and updated amenities. This notable sale marks a profitable transition from the previous owners, who acquired the resort for $230 million in 2018. Golf enthusiasts can look forward to enhanced experiences at this premier destination.
In an exciting turn of events, the stunning PGA National Resort & Spa has officially been sold to a group of investors, marking a new era for this much-loved 807-acre golf complex. The dazzling price tag? About $425 million! With fans of the green eagerly awaiting updates and changes, this sale has certainly set the golf community buzzing.
The buyer is a dynamic trio including Henderson Park, South Street Partners, and Salamander Hotels & Resorts. These groups are known for their impressive portfolios and knack for transforming luxury properties. They will take over from the seller, an affiliate of Brookfield Asset Management, who previously bought the resort back in 2018 for approximately $230 million. Quite the hefty profit, wouldn’t you say?
PGA National is no ordinary resort. This luxurious getaway features six enticing golf courses, including the highly-regarded Champion Course, which will soon host the Cognizant Classic tournament starting February 27. For residents and visitors alike, the property is a dream with around 5,000 single-family homes and townhouses sprawled across the resort grounds.
Beyond golfing, the resort boasts fabulous amenities, including a 339-room hotel, a variety of restaurants, and a sprawling 40,000-square-foot spa. Not to mention, there’s a sports and racquet club that adds even more flair to the experience.
The new owners have grand plans to enhance the resort with significant upgrades! The investor group intends to add a gleaming new pool, along with several other enrichments focused on delivering a premium golf experience. This could mean state-of-the-art equipment, revamped facilities, and perhaps even more events to draw in golf enthusiasts.
Nick Weber, the CEO of Henderson Park, is confident that their extensive experience in hospitality places them in prime position to elevate the resort’s offerings. With fresh ideas and resources, the future is looking bright for this golf haven!
The PGA National Resort officially opened its doors in 1981 and has since become a treasured destination, hosting prestigious events like the PGA Championship, Ryder Cup, and Senior PGA Championship. The impressive golf courses here were designed by legendary golf icons such as Jack Nicklaus and Arnold Palmer, ensuring that every round played is truly special.
In a reflection of its value, Wells Fargo recently issued a significant loan to secure its stake in the PGA National Resort & Spa. This type of investment showcases the property’s enduring appeal and its role in the golfing world.
The previous owners certainly left their mark on the property, completing a $100 million renovation of the golf complex and resort before the sale. These renovations included updates to numerous facilities, ensuring that PGA National remains a top-tier destination.
Just in case you’re interested in their growth trajectory, South Street Partners is also fresh off acquiring the King & Prince golf resort in St. Simons Island, Georgia, for around $50.4 million. They seem to be on a roll, don’t they?
With all these changes happening at PGA National Resort & Spa, the anticipation is palpable. Golfers and resort guests can expect a blend of tradition and innovation as this beloved resort welcomes its new owners. With future renovations and enhancements on the cards, the golfing community can certainly look forward to even more thrilling experiences in one of the premier golfing destinations!
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