South Street Partners Acquires Sawgrass Marriott Golf Resort & Spa In Ponte Vedra Beach For $148.04M
1000 Tpc Blvd
$148,040,000
Building Size
—
Asset Type
Hotel
Closing
Nov 4, 2025
About this deal
AI
The asset involved in this transaction is a hotel located at 1000 Tpc Blvd in Ponte Vedra Beach. The property includes a total of 511 keys and is positioned within a desirable market for luxury golf destinations. The sale was executed for a total of $148,040,000, with a price per key of $289,706, highlighting its value within the hospitality sector.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $148,040,000
- Buyer: Patrick Melton, Jordan Phillips & Chris Randolph - South Street Partners
- Seller: Bruce Flatt - Brookfield
- Location: 1000 Tpc Blvd, Ponte Vedra Beach
- Keys: 511
- Price per Key: $289,706
South Street Partners acquired both the Sawgrass Marriott Golf Resort & Spa and the Cabana Beach Club from Brookfield Corp. This acquisition aims to enhance their portfolio of luxury golf destinations within the Southeastern United States.
On the Map
$148,040,000
Hotel
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Ponte Vedra Beach Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93