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Stephen A. Schwarzman Of Blackstone Real Estate Acquires Sunseeker Resort Charlotte Harbor From Gregory C. Anderson For $200M

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SOLD
$200,000,000

Florida

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Hotel
Sold 07/07/2025
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Property Image
SOLD

Stephen A. Schwarzman Of Blackstone Real Estate Acquires Sunseeker Resort Charlotte Harbor From Gregory C. Anderson For $200M

5500 Sunseeker Way

See Similar Deals
Hotel
Sold 07/07/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Hotel
Transaction Type:Sale

The property involved in this transaction is a hotel located at 5500 Sunseeker Way - Sunseeker Resort Charlotte Harbor in the Port Charlotte market. The sale price for the property is $200,000,000, with a total of 785 keys, resulting in a price per key of $254,777.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $200,000,000
  • Buyer: Stephen A. Schwarzman - Blackstone Real Estate
  • Seller: Gregory C. Anderson - Allegiant
  • Market: Port Charlotte
  • Keys: 785
  • Price per Key: $254,777

The key individuals involved in this transaction include Stephen A. Schwarzman representing Blackstone Real Estate as the buyer and Gregory C. Anderson representing Allegiant as the seller. The sale is part of Allegiant's strategic shift back to its core airline business, following the resort's initial struggles with delays and low early occupancy which have shown recent improvements.

Details

SOLD
IMAGE: Stephen A. Schwarzman & Gregory C. Anderson DATE: 07/07/2025 ADDRESS: 5500 Sunseeker Way - Sunseeker Resort Charlotte Harbor MARKET: Port Charlotte ASSET TYPE: Hotel BUYER: Stephen A. Schwarzman - Blackstone Real Estate (@Blackstone) SELLER: Gregory C. Anderson - Allegiant SALE PRICE: $200,000,000 KEYS: 785 | PPK: $254,777 NOTE: Allegiant Travel sold the $695M Sunseeker Resort Charlotte Harbor to Blackstone Real Estate for $200M, with the deal expected to close in Q3 as Allegiant shifts focus back to its core airline business. The resort, plagued by delays and low early occupancy, recently saw improvement with 70% occupancy and $4.8M in Q1 EBITDA, signaling potential upside for Blackstone’s hospitality portfolio.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$710,557.75
Cash-on-Cash Return-1.27%
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