JLL completes sale of iconic Naples Beach Hotel & Golf Club

Rhea-AI Summary

On November 8, 2021, JLL announced the successful sale of the Naples Beach Hotel & Golf Club, a 125-acre beachfront resort in Naples, Florida. JLL represented the seller, The Watkins Family, and the buyer is a partnership comprising The Athens Group and MSD Partners, L.P. The property will be redeveloped into the Naples Beach Club, featuring a Four Seasons managed hotel and luxury residences. Construction is scheduled to begin in 2022, with pre-sales for residential units already underway. This aligns with JLL's extensive experience in the hospitality sector, having completed over $83 billion in transactions.

Positive

• JLL successfully completed the sale of a significant asset, the Naples Beach Hotel & Golf Club.
• The transaction adds to JLL's impressive record of over $83 billion in hotel transactions in the last five years.

Negative

• None.

MIAMI, Nov. 8, 2021 /PRNewswire/ -- JLL's Hotels and Hospitality Group announced today that it has closed the sale of the Naples Beach Hotel & Golf Club, a 125-acre beachfront resort located in the heart of Old Naples, Florida.

JLL represented the seller, The Watkins Family, and procured the buyer, a partnership between The Athens Group and MSD Partners, L.P.

The Naples Beach Hotel & Golf Club, which offers 1,000 feet of direct beachfront, will be redeveloped into the Naples Beach Club, a luxury resort and residential development that will include a 216-room hotel managed by Four Seasons Hotels and Resorts and up to 185 luxury residences and unparalleled club amenities curated by Discovery Land Company, the developer and operator of world-renowned private residential club communities. Construction is due to commence in 2022 and pre-sales have begun for the first phase of the residential resort community.

As the first Four Seasons on the Gulf Coast, the resort will offer luxurious guestrooms and resort amenities, including indoor and outdoor lounges flowing from the hotel lobby; a beachside garden with outdoor pools, cabanas and an event lawn; upscale retail stores; an event ballroom and multiple dining experiences with dramatic views of the Gulf of Mexico. In addition, guests will have access to Market Square, offering a general store, bar and grill with a game room and bowling alley, a Kids Club, an expansive lawn for activities and casual eateries, including an ice cream parlor.

Designed by renowned architectural firm Hart Howerton with interiors by Champalimaud Design, the first phase of the residential portion will include 58 beachfront residences, including four beach houses, four penthouses and 12 golf side residences. Naples Beach Club will also offer residents and members unmatched and inspired club amenities such as golf, tennis, a fitness center and world-class spa, curated by private-club developer Discovery Land Company.

The JLL Hotels & Hospitality team representing the seller was led by Senior Managing Director Gregory Rumpel.

"2021 marked our 75th and final season in operation as The Naples Beach Hotel & Golf Club", said Mike Watkins, President. "Since my grandfather first established the resort in 1946, we've made it a family tradition to welcome guests to Naples. We look forward to this next phase of the resort continuing that tradition of hospitality and stewardship within our community."

JLL's Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group's 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

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Contact: Kristen Murphy, JLL Senior Manager, Public Relations
Phone: +1 617 848 1572
Email:  Kristen.Murphy@am.jll.com 

 

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SOURCE JLL

FAQ

What is the recent sale by JLL about?

JLL announced the sale of the Naples Beach Hotel & Golf Club, which will be redeveloped into a luxury resort.

Who were the parties involved in the Naples Beach Hotel sale?

The seller was The Watkins Family, while the buyer is a partnership between The Athens Group and MSD Partners, L.P.

What developments will be included in the Naples Beach Club?

The Naples Beach Club will feature a 216-room Four Seasons hotel and up to 185 luxury residences.

When will construction start for the new Naples Beach Club?

Construction is set to commence in 2022.

How does this sale affect JLL's market position?

This sale strengthens JLL's reputation in the hospitality sector, contributing to its $83 billion in transactions.