The Athens Group Acquires Naples Beach Hotel & Golf Club In USA
The Athens Group and MSD Partners L.P. have confirmed the acquisition of Naples Beach Hotel & Golf Club in the USA. As public records show, the 125-acre property was sold for more than US$362 million. According to real estate specialists, it is one of the most expensive commercial transactions in Naples or Southwest Florida.
Stan Stouder, a commercial broker and founding partner of CRE Consultants in Fort Myers, said:
"That is a massive sale. Maybe the largest I've seen in this tri-county area. The preciseness of the price likely reflects the redevelopment potential, rather than a more typical calculation based on square footage or acreage"
The Naples Beach Hotel & Golf Club is set to be demolished and renovated by its new owners. The development plan for the property includes a total of 185 luxury residences and a 216-room Four Seasons Resort, off Gulf Shore Boulevard, close to the Gulf of Mexico. The Athens Group has promised to keep the golf course open to the public, besides offering recreation space and beachfront dining.