Announce Acquisition of Naples Beach Hotel & Golf Club and its Redevelopment as the Naples Beach Club, a Resort and Residential Community in Iconic Old Naples.
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The Athens Group and MSD Partners acquired the nearly 125-acre Gulf-front property in Naples for redevelopment of the Naples Beach Club with a 216-room hotel and resort managed by Four Seasons, up to 185 luxury residences and upscale club amenities.
The Naples Grande Beach Resort has sold for $248 million. The property, according to Collier County records, was sold in three pieces, with the resort bringing $218.4 million, the golf course bringing $24.8 million and the tennis center bringing $4.8 million.
The Athens Group, which owns luxury hotels across the country, purchased the property in 2021 for more than $362 million, but Naples Beach Club still owns 10 acres on the east side of Gulf Shore Boulevard North.
It will have over 100 fewer rooms than the former, now demolished hotel and will be the first Four Seasons resort on Florida's Gulf Coast. The entire development will now be called the Naples Beach Club and the hotel will be called the Naples Beach Club, a Four Seasons Resort.
The 20 acres, located at 1500 Fifth Ave. S. in Naples, will now be owned and controlled by Naples Bay Financial Holding, as well as F.Fred Pezeshkan, Raymond Sehayek and Iraj Zand.
Key takeaway: Work on the Naples Beach Club is moving along with the hotel property under construction and approvals from the city pending. Core challenge: While the hotel could open as soon as 2025, a lot of work remains to be done, including the construction of several major pieces of the redevelopment.
Henderson Park, based in the United Kingdom with a stateside office in Radnor, Pennsylvania, paid $218.4 million for the Naples Grande Hotel, plus $24.8 million for its 18-hole golf course and $4.8 million for the 15-court tennis center, according to the property deeds filed last week in Collier County.
The old hotel has been demolished and construction on a new beachside Four Seasons Hotel has begun. The new hotel will include 216 rooms, about 100 less than the previous hotel. It will be the first Four Seasons resort on Florida's Gulf Coast.