More details are trickling in on what is sure to be the highest-priced real estate transaction for 2021 in Southwest Florida. The Athens Group and MSD Partners purchased the Naples Beach Club for $362 million on Oct. 19.
A Four Seasons resort is planned for the 125-acre property that has 1,000 feet of beachfront access to the Gulf of Mexico. Demolition on some of the existing structures is expected to begin early next year. The Naples Beach Club, a Four Seasons Resort, is slated to open in mid-to-late 2024. Those timetables were shared with Gulfshore Business by The Athens Group Chief Operating Officer Jay Newman.
There are 185 luxury residences and a 216-room resort planned for the property off Gulf Shore Boulevard. Some of the current features will be retained and enhanced, including the Sunset Beach Bar and HB’s on the Gulf. “Enhancing these venues remains an important part of our plan for improving the property, along with upgraded golf and tennis,” Newman said in an email.
New amenities planned include a spa with health and wellness experiences and facilities, indoor and outdoor lounges, multiple restaurants and a new restaurant next to the golf course. That will feature a family game room, a small bowling alley, upscale shops and a gourmet grab & go, Newman said.
Newman declined to comment on the amount of investment it would be making for the upgrades. “We have made – and will continue to make – a substantial investment in this one-of-a-kind, world-class resort,” Newman said.
