Henderson Park acquired the PGA National Resort in Palm Beach Gardens from Brookfield Asset Management.
The S. Florida Business Journal reports a source familiar with the transaction said the price was more than $400 million. Henderson Park is partnering in the deal were Salamander Connection and South Street Partners. Jones Day advised the buyers in the deal, while the sellers worked with Eastdil Secured.
The resort at 1000 Avenue of the Champions features 360 guest rooms, 99 holes of golf, a 40,000-square-foot spa designed by V-Star, six restaurants, and a sports and racquet club.
The PGA National Resort, developed in 1981, spans 807 acres and hosts an annual PGA Tour event, the Cognizant Classic. Up until 2022, the course was home to the PGA of America, which has since relocated its headquarters to Frisco.
The property last traded for $217 million in late 2018. Brookfield Asset Management launched $100 million in renovations.
The post S. Florida’s PGA National Trades for $400M appeared first on Connect CRE.
