Key Takeaways
- • South Street Partners acquired the Sawgrass Marriott Golf Resort & Spa and Cabana Beach Club in Ponte Vedra Beach, Florida for $149.04 million on November 4, 2025, with the deed recorded November 5.
- • The buyer is a Charlotte and Charleston-based private equity real estate firm managing over $2 billion in assets under management, specializing in luxury golf resort acquisitions across the Southeastern United States.
- • The property comprises 511 guest rooms, 24 suites, and 80 villas across a 108,616-square-foot conference center, positioned adjacent to TPC Sawgrass Golf Club—home of The Players Championship and owned by the PGA Tour.
- • Brookfield Corp. of Toronto divested the asset, which it acquired in 2022 through its purchase of Watermark Lodging Trust, representing a strategic portfolio exit for the multinational asset manager.
- • South Street Partners now owns a portfolio of four premium golf resort properties including Kiawah Partners, Naples Grande Beach Resort, PGA National Resort, and The King and Prince Beach & Golf Resort, expanding its luxury hospitality footprint.
Summary
South Street Partners, a private equity real estate investment firm headquartered in Charlotte, North Carolina and Charleston, South Carolina, closed the acquisition of the Sawgrass Marriott Golf Resort & Spa and Cabana Beach Club on November 4, 2025, for $149.04 million. The transaction was executed through the entity DFH-SSP TPC M Propco LLC, with the deed recorded in St. Johns County on November 5. The buyer represents a significant player in the luxury golf resort sector, managing over $2 billion in assets under management and focusing on special situations and value-add real estate investments across the Southeastern United States and select national and international markets.
The seller, Brookfield Corp. of Toronto, divested the properties through CWI Sawgrass Hotel LLC. Brookfield had acquired the hotel in 2022 as part of its acquisition of Watermark Lodging Trust, making this sale part of the multinational corporation's broader portfolio rationalization. The Sawgrass Marriott, originally developed in 1987, comprises a substantial hospitality asset with 511 guest rooms, 24 suites, and 80 villas, alongside 108,616 square feet of conference center space, two pools, snack bars, Vernon's First Coast Kitchen and Bar, and Alice and Pete's Pub.
The property's strategic location in Ponte Vedra Beach—adjacent to TPC Sawgrass Golf Club, home of The Players Championship professional golf tournament—provides significant competitive advantages. While the PGA Tour owns TPC Sawgrass, Marriott guests receive exclusive access privileges to the golf complex, creating differentiation in the premium golf resort market. South Street Partners' acquisition expands its luxury hospitality portfolio to include four flagship properties: Kiawah Partners in Kiawah Island, South Carolina; Naples Grande Beach Resort in Naples, Florida; PGA National Resort in Palm Beach Gardens, Florida; and The King and Prince Beach & Golf Resort in St. Simons Island, Georgia. The transaction positions South Street Partners as a consolidator of institutional-quality golf resort assets in high-demand coastal markets.
The seller, Brookfield Corp. of Toronto, divested the properties through CWI Sawgrass Hotel LLC. Brookfield had acquired the hotel in 2022 as part of its acquisition of Watermark Lodging Trust, making this sale part of the multinational corporation's broader portfolio rationalization. The Sawgrass Marriott, originally developed in 1987, comprises a substantial hospitality asset with 511 guest rooms, 24 suites, and 80 villas, alongside 108,616 square feet of conference center space, two pools, snack bars, Vernon's First Coast Kitchen and Bar, and Alice and Pete's Pub.
The property's strategic location in Ponte Vedra Beach—adjacent to TPC Sawgrass Golf Club, home of The Players Championship professional golf tournament—provides significant competitive advantages. While the PGA Tour owns TPC Sawgrass, Marriott guests receive exclusive access privileges to the golf complex, creating differentiation in the premium golf resort market. South Street Partners' acquisition expands its luxury hospitality portfolio to include four flagship properties: Kiawah Partners in Kiawah Island, South Carolina; Naples Grande Beach Resort in Naples, Florida; PGA National Resort in Palm Beach Gardens, Florida; and The King and Prince Beach & Golf Resort in St. Simons Island, Georgia. The transaction positions South Street Partners as a consolidator of institutional-quality golf resort assets in high-demand coastal markets.
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