WEST PALM BEACH, Florida— Calmwater Capital, a direct commercial real estate bridge lender headquartered in Los Angeles, announced in September that it had acquired Banyan Cay Resort and Golf Club in West Palm Beach, Florida. As the new property owner, Calmwater Capital affiliate, U.S. Real Estate Credit III, has immediately introduced financial and professional resources to reopen the golf course and club and complete the hotel, spa and fitness complex.
The property includes 11 venues with a mix of indoor and outdoor spaces, the largest of which features 3,800 square feet. Meetings can take advantage of in-house audiovisual services and catering from on-site restaurants.
Centrally located in West Palm Beach, Banyan Cay Resort and Golf Club will offer West Palm Beach a new luxury resort and residential experience. The property most notably features Jack Nicklaus’ 300th Signature 18-hole course surrounded by West Palm Beach’s natural beauty.
Calmwater Capital undertook extensive renovations to restore the golf course, including aeration and re-seeding of the course and tees, landscaping of the course and lake areas, and bunker restoration with new white sand. The golf course reopened September 30.
Calmwater Capital has also engaged crews to complete the 150-room hotel and resort, which will feature three restaurants, a first-class spa and fitness complex, a wedding venue, meeting space and banquet facilities for up to 200 people. Guests will have access to a myriad of amenities including a resort-style swimming pool and pickleball courts.
The hotel is expected to open winter 2024. For more information go to hyatt.com