Timbers, Wheelock Street Capital and Ronto Group announce joint acquisition of iconic South Seas Island Resort
WINTER PARK, Florida, September 30, 2021 / PRNewswire / – Timbers Company, Wheelock Street Capital and The Ronto Group are pleased to announce the joint acquisition of South Seas Island Resort on that of Florida Gulf Coast. The notable acquisition of this historic property supports Timbers Company’s continued growth plans, as announced earlier this year.
“At Timbers Company, we actively seek out exceptional properties like the South Seas Island Resort to diversify our offerings and expand our footprint. For more than two decades, we have been successfully developing, selling and operating hotel resorts across the world and are delighted to add this iconic coastline Florida property to our collection of diverse destinations, ”said CEO of Timbers Greg Spencer. “As a native Floridian and having vacationed on both Sanibel and Captiva growing up, I have immense appreciation for how special this resort is to all the generations who have visited it over the past decades. Securing a coastline Florida The location of the resort was one of our main goals when we moved to Florida of Colorado and we are delighted to be working with such distinguished partners as Wheelock Street Capital and The Ronto Group. We plan to enhance the guest experience with extensive services and amenities while working on future plans to reinvent and restore the famous South Seas Island Resort to its original grandeur. ”
Following the recent announcement of a strategic partnership with Timbers Company, Wheelock Street Capital, a private equity firm, will provide capital for this transaction. Tim hodes – Principal and by Wheelock Head of Hotel Acquisitions – step in and share that “Wheel is pleased to partner with Timbers and Ronto to acquire such a unique and renowned product Florida property and rethink the future it holds. Acquiring South Seas Island Resort is a perfect fit for our team as we seek to invest in the best of the premium luxury resort market. ”
Highlights of the successful acquisition of South Seas Island Resort by Wheelock continued focus on high-end residential and resort development projects. Wheel and Ronto have successfully developed over 700 condominium units on the West Coast of Florida. South Seas Island Resort adds to by Wheelock growing collection of leisure-oriented hotel assets which includes Chateau Elan Winery and Resort located outside of Atlanta, Georgia the 265-key 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 Savannah, Georgia.
The Ronto Group, based in Naples, florida, will be in partnership with Timbers for the development of the property. In a statement provided by Antoine Salomon, business owner, “Our team looks forward to partnering with Timbers and Wheel to create a mixed vision for this iconic Florida iconic seaside resort that has meant so much to generations of vacationers. The result will certainly provide customers with an exemplary luxury experience for generations to come. ”
Timbers has extensive experience with planned resort communities, including properties such as Casole Castle in Tuscany, Italy, The Botany Bay reserve in the US Virgin Islands, and Hokuala Resort at Kauai, Hawaii. Timbers’ past successes with planned communities are clear examples of how the company plans to handle future developments like South Seas Island Resort. From zoning and road construction to the design of luxury accommodation, including hotels and private residences, Timbers’ talented team of architects and urban planners work together to provide the Timbers touch surrounding every detail of a project.
South Seas Island Resort on Captiva Island holds a long history of attracting generations of families to its exclusive 2.5 miles of white sand beaches. Since its founding in 1946, the 330-acre resort and wildlife reserve and estuary have been a staple of Florida tourism. Occupying about one-third of the northern tip of the six-mile long Captiva Island, the famous family-owned property has 434 accommodations ranging from hotel rooms and suites, one- to three-bedroom condominiums and private homes, chalets and homes of distinction, all featuring balconies or verandas to enjoy the view of water and wildlife. An array of activities are available for guests of all ages with 20 swimming pools and aqua complex, beachfront golf, tennis, full-service spa, waterfront dining options, programs for kids, water sports and shopping. Guests enjoy world-class shelling, eco-cruises and nature tours, epic fishing, the fitness center and yoga studio as well as special events and meeting space.
The announcement follows recent news of the repositioning of Timbers as the company continues its trajectory of pursuing projects and strategic partnerships in anticipation of a new brand launch later this year.
For more information visit TimbersCompany.com
About the Timbers Company:
Timbers Company, the company behind Timbers Resorts, is the developer and operator of a collection of luxury properties in more than 16 of the world’s most exclusive upscale destinations. The Timbers Collection includes resorts, hotels and private residence clubs in some of the world’s most desirable locations for skiing, golf, recreation and the beach. Since 1999, Timbers Resorts have been committed to being authentic, unique and respectful of the destination, focusing on family and experiences, and never compromising on quality and service. Timbers Resorts also operates a luxury rental business where guests can rent out some of their most exclusive residences within the resorts. Owners of Timbers Collection properties enjoy an ownership experience with extended benefits through a host of travel and lifestyle partners such as Sentient Jet, Hertz, MedjetAssist, The Ghurka Collection and many more, as well as access to the Timbers reciprocity program and the ability to redeem vacations with other portfolio destinations. The current properties of the Timbers Collection can be found in Aspen, Castor Creek, Cape San Lucas, Jupiter, Kaua’i, Kiawah Island, Maui, Napa, Scottsdale, Sonoma, Southern california, Steamboat, Tuscany and Vail.
About Wheelock Street Capital:
Wheelock Street Capital was formed in 2008 by Rick kleeman and Jonathan paul, two seasoned real estate private equity investors, each with 30 years of experience in real estate transactions across all major asset classes. Wheel raised more than $ 4 billion in the capital commitments of renowned institutional investors and focuses on real estate investment opportunities throughout United States, on public and private markets. Wheel is currently deploying its sixth fund in its value-added series, Wheelock Street Real Estate Fund VI and its first perpetual life insurance fund, Wheelock Street Long Term Value Fund. The Long Term Value Fund targets high quality, cash flow generating assets with stable but attractive risk-adjusted returns over an investment horizon of 5 to 15 years. The company may invest directly or with high quality joint venture partners through a variety of capital structures and types of transactions, including acquisitions, restructurings and recapitalizations. by Wheelock The investment team has extensive experience with leading institutional investment firms and reputable real estate operating companies and has produced a 10-year history of demonstrated and consistent outperformance against industry benchmarks.
About the Ronto Group:
Since 1967, The Ronto Group has been honing its real estate development skills through the creation of residential and commercial projects around the world. For more than thirty years, Ronto has been developing in the Southwest Florida market, creating communities that celebrate the region’s compelling appeal, Marco Island To Tampa. The company has built a solid reputation for its imaginative vision, unwavering integrity and reliable performance. Based at Naples, Ronto’s expertise in developing condominiums and land has been recognized internationally for communities that are enduring examples of the luxurious lifestyle, thoughtful planning and dedicated craftsmanship . Over the past 8 years, the partnership between The Ronto Group and Wheelock Street Capital has resulted in three high-rise towers and two mid-rise communities, totaling 700 residences in Southwest Florida. Ronto has also received numerous Southwestern awards Florida the residential construction industry for superior design and craftsmanship. The Ronto Group’s expertise and attention to detail are evident in each of their projects. Visit www.Ronto.com
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SOURCE Lumber Company