Barings LLC is selling the resort and two golf courses for $835
million to a Sculptor Diversified, a non-traded REIT, as well as Trinity Investments.
MARCO ISLAND, Florida – MassMutual’s Barings LLC is selling The
JW Marriott Marco Island Beach Resort for a reported $835 million to Sculptor
Diversified Real Estate Income Trust and Trinity Investments. The deal includes two 18-hotel golf
courses in Naples, Florida.
The transaction, expected to close by May 1, includes the
809-room beachfront resort, more than 10 acres of beachfront land and the
Hammock Bay and Rookery golf courses.
Sculptor Diversified is a private, nontraded real estate
investment trust managed by Sculptor Real Estate, with global holdings across
hospitality and commercial assets.
Among Trinity's last deals is the acquisition with Partners Group and a third investor of the 240-key The Hoxton, Poblenou in Barcelona for an undisclosed amount.
The Marco Island resort, opened in 1971 as the Marco Beach
Hotel and Villas, was acquired by Marriott in 1979 and rebranded as a JW
Marriott in 2016 following a $320 million renovation. The property includes
three towers built between 1972 and 2019.
Sculptor and Trinity plan to invest in upgrades to guest rooms, spa,
pool and golf amenities, with most capital improvements expected within the
first two years of ownership.