Timbers Company, Wheelock Street Capital and The Ronto Group have announced the joint acquisition of South Seas Island Resort on Captiva Island.
“At Timbers Company, we are actively looking for exceptional properties like South Seas Island Resort to diversify our offerings and expand our footprint,” said Timbers CEO Greg Spencer. “For more than two decades, we have been successfully developing, selling and operating master-planned resorts around the world and are delighted to add this iconic coastal Florida property to our collection of diverse destinations.
“As a native Floridian and having vacationed on both Sanibel and Captiva growing up, I have an immense appreciation for just how special this resort is to all the generations that have visited over the last several decades,” he added. “Securing a coastal Florida resort location was one of our primary goals when we relocated to Florida from Colorado and we are pleased to be working with such distinguished partners as Wheelock Street Capital and The Ronto Group.”
Following the recent announcement of a strategic partnership with Timbers Company, Wheelock Street Capital, a private investment firm, will provide the capital for the transaction.
“Wheelock is pleased to partner with Timbers and Ronto to acquire such a unique and renowned Florida property and to re-envision the future it holds,” said Tim Hodes, principal and Wheelock’s head of hotel acquisitions. “The acquisition of South Seas Island Resort is a perfect match for our team as we seek to invest in the best the upscale luxury resort market has to offer.”
The acquisition of South Seas for an undisclosed price highlights Wheelock’s continued focus on high-end resort and residential development projects. Wheelock and Ronto have successfully developed more than 700 condominium units on the west coast of Florida. South Seas Island Resort adds to Wheelock’s growing collection of leisure-driven hotel assets that includes Chateau Elan Winery and Resort located outside of Atlanta, Ga., the 265-key all-suite, AAA Four Diamond Hotel Contessa, an independent hotel located on the Riverwalk in San Antonio, Texas, and the 167-key Perry Lane Hotel, a Luxury Collection Hotel located in Savannah, Ga.
The Ronto Group, based in Naples, will be partnering with Timbers for the development of the property.
“Our team looks forward to partnering with Timbers and Wheelock to create a blended vision for this iconic Florida landmark resort that has meant so much to generations of vacationers,” said a statement provided by Anthony Solomon, owner of the company. “The outcome will provide guests with an exemplary luxury experience for future generations.”
Timbers has extensive experience with master-planned resort communities, including properties such as Castello di Casole in Tuscany, Italy, The Preserve at Botany Bay in the U.S. Virgin Islands, and Hokuala Resort in Kauai, Hawaii.
From zoning and building roads to designing luxury accommodations, including hotels and private residences, the Timbers team of architects and land planners collaborate to provide the Timbers touch surrounding every detail of a project.
Founded in 1946, South Seas resort spans 330 acres. Occupying approximately one-third of the northern tip of the six-mile-long Captiva Island, the family friendly property boasts 434 accommodations ranging from hotel guestrooms and suites, one- to three-bedroom condominiums, and private homes, cottages and rentals. An array of activities are available for guests of all ages, with 20 swimming pools and pool complex, beachfront golf, tennis, full-service spa, waterfront dining options, children’s programs, watersports and boutique shopping. Guests can also enjoy shelling, eco-cruises and nature tours, fishing, a fitness center and yoga studio as well as special event and meeting space.
“We plan to elevate the guest experience with expanded services and amenities while working on future plans to reimagine and restore the famed South Seas Island Resort to its original grandeur,” said Mr. Spencer.
For more information, visit Timbers Company.com. ¦