WEST PALM BEACH, Fla., Sept. 6, 2023 /PRNewswire/ — Calmwater Capital, a direct commercial real estate bridge lender headquartered in Los Angeles, today announces its acquisition of Banyan Cay Resort & Golf Club. As the new property owner, Calmwater Capital affiliate U.S. Real Estate Credit III has immediately introduced financial and professional resources to reopen the golf course and club and complete the hotel, spa and fitness complex.
Centrally located in West Palm Beach, the property most notably features Jack Nicklaus’ 300th Signature 18-hole course surrounded by West Palm Beach’s natural beauty. Extensive renovations to restore the golf course are well underway, including aeration and re-seeding of the course and tees, purchase of new maintenance equipment, landscaping of the course and lake areas, and bunker restoration with new white sand. The golf course will reopen on Sept. 30, 2023.
Calmwater Capital has also engaged crews to complete the 150-room hotel and resort, which will feature three restaurants, a first-class spa and fitness complex, wedding venue, meeting space and banquet facilities for up to 200 people. Guests will have access to a myriad of amenities including a resort-style swimming pool and pickleball courts. The hotel brand and timeline for completion will be announced at a later date.
About Banyan Cay Resort & Golf Club
Banyan Cay Resort & Golf Club will offer West Palm Beach a new luxury resort and residential experience. Featuring Jack Nicklaus’ 300th Signature Golf Course, state-of-the-art golf practice facilities, West Indies-inspired Club House, and a forthcoming hotel, members, residents and future guests alike are sure to have a refined, relaxing experience. The central location in one of South Florida’s biggest travel hotspots, offers the best of both worlds—a respite away from the crowds all while being only a short drive from Palm Beach’s numerous attractions.
About Calmwater Capital
Calmwater Capital is an institutional, direct commercial real estate bridge lender headquartered in El Segundo, CA. Founded in 2010, Calmwater’s investor base has grown to include state and international pension funds, university endowments, and ultrahigh net worth individuals and family offices located both domestically and abroad. With a focus on senior secured commercial real estate bridge loans between $7.5 and $100 million, Calmwater has originated over $3.8 billion of loan commitments over the past 13 years across 234 transactions. For more information on Calmwater Capital, visit www.calmwatercapital.com.
SOURCE Banyan Cay
Originally published at https://www.prnewswire.com/news-releases/calmwater-capital-acquires-banyan-cay-resort–golf-club-301919815.html
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