South Street Partners Acquires Sawgrass Marriott Golf Resort & Spa In Ponte Vedra Beach For $148.04M

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.