Massachusetts Mutual Life Insurance Co. has completed the sale of a Florida luxury resort for $835 million to a joint venture between Sculptor Real Estate and Trinity Investments.
Transaction Details
The transaction involves the JW Marriott Miami Turnberry Resort & Spa, a prominent property located in Aventura, Florida. The sale was confirmed in a statement released on Monday by the parties involved.
Buyer Information
The purchasing entity is a partnership between Sculptor Real Estate, the real estate investment division of Sculptor Capital Management, and Trinity Investments, a private real estate investment firm. The joint venture acquired the resort from MassMutual, which had owned the property since 2006.
Property Overview
The JW Marriott Miami Turnberry Resort & Spa features 685 guest rooms, two 18-hole golf courses, a spa, and a water park. The resort is situated in Aventura, a city located between Miami and Fort Lauderdale.
Statements from Involved Parties
“We are excited to add this iconic resort to our portfolio,” said Sean Hehir, managing partner, president, and CEO of Trinity Investments, in the statement. “We look forward to working with our partners and the property’s team to continue delivering a world-class experience.”
Additional Information
According to the statement, the resort will continue to operate under the JW Marriott brand. Financial terms of the deal were not disclosed beyond the reported $835 million purchase price.
Further Reading
For more details, visit the original report: https://news.google.com/rss/articles/CBMiwgFBVV95cUxNazVRbFY2ZnluaVg1d3F4QmhDU0lneDNlVnBHcmhwWnlRQWpOTnlQaU9YdFdSSVpMNzg2OEhaM0d3b3ZxUG1pRDR4U2paV205M204OGQxQVVLUDQ1ZVVaakFuSGhlYmdBQTM5YTlKbm02eW1TM051MmkwVXlmLU5Qbm03TktVNlFyeGFWYkNsUWFlZThBeVVNYUlsRld4OFNvZ1J6bEhNSjdjN3ljNjkxR0xablJGckROS0lncmRvcHJ4QQ?oc=5
