Henderson Park reportedly buying PGA National Resort

PALM BEACH GARDENS, Florida – London-based Henderson Park is close to buying PGA National Resort in Palm Beach Gardens, Florida, from Brookfield Asset Management for $425 million (about $1.3 million per room), according to Bloomberg. The deal would be South Florida’s biggest of the year.

The resort includes 350 rooms, 19 tennis courts, a 40,000-square-foot spa, a 35,000 square-foot fitness center, 60,000 square feet of event space and six championship golf courses. Salamander Hotels & Resorts is expected to manage the resort if the deal closes.

Brookfield Asset Management acquired the resort in 2018 for $232 million and spent an additional $105 million on renovations, adding eight F&B outlets and two more golf courses. Last year, Brookfield closed a $250 million loan on the property set to mature in 2033.

The deal would come on the heels of Oracle software billionaire Larry Ellison’s $277 million acquisition from Lewis Trust Group of the beachfront, 309-room Eau Palm Beach Resort & Spa in Manalapan, Florida, just south of Palm Beach.