The troubled Banyan Cay Resort & Golf Club in West Palm Beach has been acquired by Witkoff for approximately $100 million, according to recent reports. The deal involved a $75 million loan from Calmwater Capital's affiliate, which was part of Calmwater's successful $96.9 million bid in a previous bankruptcy court auction for the financially troubled Banyan Cay project.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $100,000,000
• Loan Amount: $75,000,000
• Lender: Larry Grantham - Calmwater Capital
• Landlord: Steve & Alex Witkoff - Witkoff
• Market: West Palm Beach
• Address: 200 Banyan Boulevard

The acquisition of the Banyan Cay Resort & Golf Club by Witkoff was facilitated by Larry Grantham from Calmwater Capital. Witkoff, led by co-CEOs Steve and Alex Witkoff, successfully secured the property after the bankruptcy court auction. This investment includes the $75 million loan from Calmwater Capital's affiliate, providing the necessary financial backing for the transaction.