Tim Wills Buys Islands Of Islamorada Hotel From The Frisbie Group For $72M

The Islands of Islamorada luxury resort in Islamorada, Florida, with 22 waterfront villas and an eight-unit suite hotel, was acquired by The Wills Companies from The Frisbie Group for $72 million. The property includes plans to convert the villas into luxury residential units while retaining the resort's five-star amenities.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $72,000,000
• Address: 82779 Old Highway
• Market: Islamorada
• Number of Keys: 30
• Price per Key: $2,400,000

Metropolis Capital Advisors provided advisory support for the deal, along with financing from City National Bank of Florida to The Wills Companies. The sale involved key individuals such as Tim Wills from The Wills Companies as the buyer, and The Frisbie Group as the seller in the transaction.