Jacksonville, FL-based Dream Finders Homes is the official home builder of the PGA Tour while Battle is the executive chairman of Diamond Baseball Holdings and past chairman/CEO of IMG College.
The property is situated on approximately 66 acres adjacent to the Players Stadium Course at TPC Sawgrass, which has hosted The Players Championship annually since 1982, and is close to the new PGA Tour Global Home and PGA Tour Studios. The acquisition financing was provided by BDT & MSD Partners’ affiliated funds.
Located three miles from Ponte Vedra Beach, the resort comprises 351 hotel keys, 163 villa keys, approximately 114,000 sq. ft. of meeting space, nine on-site food and beverage outlets, a 25,000-sq.-ft. full-service spa and fitness facility and the two-acre oceanfront Cabana Beach Club, which includes the 1912 Ocean Bar & Rooftop, with 700 members.
The JV will focus on significantly elevating the resort offerings, with plans for a comprehensive renovation. Additionally, guests staying at the resort have the right to book tee times up to 12 months in advance at The Players Stadium Course and Dye’s Valley Course, TPC Sawgrass’s two championship golf courses designed by Pete Dye.
“The acquisition of Sawgrass Marriott Golf Resort & Spa is a perfect complement to our existing hotel portfolio of exceptional properties located in high-growth, Southeastern markets with A+ locations,” said Henry Armistead, principal, South Street Partners. “Alongside our investment partners, we are excited for this incredible asset to be the inaugural investment for South Street’s SSP GP Fund II.”
Tags: Diamond Baseball Holdings, Henry Armistead, Street Partners, Sawgrass Marriott Golf Resort & Spa Dream Finders Homes, Pat Battle