Witkoff Group And Access Real Estate Secure $100M Refinance Loan For Belgrove Resort & Spa

The asset involved in this transaction is the 200-acre Belgrove Resort & Spa and Dutchman’s Pipe Golf Club, located at 1900 Banyan Club Road in West Palm Beach. The resort features a total of 150 keys. The property was acquired out of distress and has initiated plans for a new 22-unit condo project on-site.

Summary of transation details:

• Property Type: Resort
• Transaction Amount: $100,000,000
• Lender: Marc Rowan - Apollo Global Management
• Landlord: Steven & Alex Witkoff - Witkoff Group; Len Blavatnik & Jonah Sonnenborn - Access Real Estate
• Loan Type: Refinance

This transaction involved a joint venture between Witkoff Group and Access Real Estate, highlighting their strategic initiative in revitalizing the property. The collaboration emphasizes their commitment to enhancing the offerings at the resort while addressing the needs of the West Palm Beach market.