News Summary
The iconic PGA National Resort & Spa has been acquired by London-based private equity firm Henderson Park in a deal estimated at $425 million. This sprawling resort, featuring six prestigious golf courses and a $100 million renovation, promises to enhance the golfing experience. The acquisition comes ahead of the Cognizant Classic, set to take place from February 27 to March 2. With plans for future development, the new owners aim to elevate this legendary destination while maintaining its charm.
Historic PGA National Resort & Spa Changes Hands in $425 Million Deal!
Exciting news is buzzing in the world of golf! The iconic PGA National Resort & Spa has a new owner, and it’s none other than the London-based private equity firm Henderson Park. Although the official sale deed is still pending, sources are estimating this mouthwatering transaction at around $425 million. That’s a hefty sum, isn’t it?
Why is this Resort So Special?
Let’s dive into what makes this resort a treasure! Spanning an impressive 807 acres, the PGA National Resort is more than just a golf course; it’s a sprawling paradise for leisure and competition alike. Located at the junction of Jog Road and Florida’s Turnpike, it’s perfectly positioned to entice golf lovers from near and far.
What fans the flames of excitement is the resort’s recent transformation, having undergone a $100 million renovation that’s sure to enhance the experience for guests and members alike. Whether you are seeking a luxurious spa day or an exhilarating round of golf, PGA National promises to impress!
A Golfer’s Paradise
The resort is home to six golf courses, designed by renowned golf legends like Jack Nicklaus and Arnold Palmer. Picture this: beautiful landscapes, immaculate greens, and the thrill of playing on courses that have hosted prestigious events, including the PGA Championship, Ryder Cup, and Senior PGA Championship. Golf enthusiasts are truly in for a treat!
And don’t forget about The Butcher’s Club—one of the dining options led by the celebrated winner of Top Chef, Jeremy Ford. It’s the perfect place to unwind and relive the day’s play over a gourmet meal!
What’s Next for PGA National?
Henderson Park isn’t just interested in the past; they also see great potential in the future. With their acquisition of this historic resort, they are focusing on capitalizing on its iconic status while planning to elevate and enhance its offerings.
Also making waves is the Cognizant Classic, part of the PGA Tour, slated to take place right at PGA National from February 27 to March 2. This exciting event will further elevate the resort’s profile and bring in fans eager to see top-tier golfing action.
Community and Future Developments
Beyond golf, the PGA National community houses about 5,000 homes, with some lavish properties valued over an impressive $4 million. As corporate offices are being established close by and a new campus for Vanderbilt University is on the way, it’s expected the demand for real estate in this luxurious enclave will soar. Who wouldn’t want to live near such an iconic golf destination?
The Road Ahead for Henderson Park
The new owners aren’t going into this venture unprepared. They’re supported by a joint venture with Salamander Hotels and South Street Partners, all while still maintaining the integrity and charm of the resort. The founder of Salamander has praised PGA National as one of the most iconic golf resorts in the U.S., reaffirming its luxurious standing in the golf community.
Previously owned by Brookfield Asset Management, who purchased the resort for around $218 million in 2018, completed renovations have set a substantial foundation for the new owners. They certainly have big shoes to fill, but all signs point to an exciting time ahead for golf aficionados.
In summary, the acquisition of PGA National Resort & Spa is shaping up to be fantastic news for the golf community. With its storied past and bright future, it’s clear that this legendary destination will continue to draw golfers from all corners. Hold onto your golf clubs—PGA National is gearing up to be better than ever!
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Additional Resources
- Palm Beach Post
- Connect CRE
- Hospitality Investor
- IPE Real Assets
- Golf Course Industry
- Wikipedia: PGA National Resort
