Witkoff Acquires Banyan Cay Resort & Golf Club In West Palm Beach For $100M With $75M Loan From Calmwater Capital
200 Banyan Boulevard
Summary
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.
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