Pyramid Global Hospitality And Western & Southern Financial Group Acquire Naples Bay Resort For $41.25M
1500 5th Avenue South
$41,250,000
Building Size
—
Asset Type
Mixed-use
Closing
Jul 13, 2026
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 1500 5th Avenue South, Naples, FL. The transaction took place for a total price of $41,250,000. The asset spans 16 acres and includes an 85-room hotel, a 97-slip marina, a retail center, a private club, and restaurants. The property is known as Naples Bay Resort & Marina.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $41,250,000
- Buyer: Warren Fields - Pyramid Global Hospitality
- Buyer: John F. Barrett - Western & Southern Financial Group
- Seller: Fred Pezeshkan - Summit Management
- Date of Transaction: 07/13/2026
The acquisition marks a significant change in ownership, with the new owners, Pyramid Global Hospitality and Western & Southern Financial Group, planning renovations while maintaining the resort's established brand. The previous owner, Fred Pezeshkan, originally opened the resort in 2008 and has now transferred the property as part of this transaction.
Players
Avenue Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Browse Florida mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93