Sculptor Diversified Buys JW Marriott Resort For $835M

Information column from The Real Deal:

Sculptor Diversified Real Estate Income Trust secures contract. The firm buys a hotel for $835 million. Sculptor Diversified, led by Steven Orbuch, makes a purchase. The JW Marriott Marco Island Beach Resort is involved. Two Naples golf courses are part of the deal. Trinity Investments invests with Sculptor Diversified. Trinity has a relationship with Marriott International. This relationship aids the property's operation. The JW Marriott brand _ in place. The transaction is disclosed in SEC filings. It ranks among the biggest hotel trades. The deal is the top hotel sale in Florida. JLL markets the 10-plus acre site. The site is located at 400 South Collier Boulevard. Barings owns the 809-room hotel. The hotel has 12 restaurants and multiple pools. The Hammock Bay and Rookery golf courses are included. Marriott International operates the luxury property. The hotel opened in 1965 as the Marco Beach Hotel. The project cost $800,000 at that time. The hotel coincided with Marco Island's launch. The Mackle Brothers expanded the hotel in 1967. The hotel had 100 rooms and 44 villa units then. An $18 million overhaul occurred four years later. The hotel was transformed into a 10-story resort. It had 400 rooms and was rebranded. The Mackles sold the hotel to Marriott in 1979. Marriott bought the hotel for $35 million. The sale raised capital for the Mackles. The hotel faced lawsuits and challenges prior.