Sept. 7, 2023 – West Palm Beach, Fla. – Calmwater Capital, a direct commercial real estate bridge lender headquartered in Los Angeles, today announces its acquisition of Banyan Cay Resort & Golf Club. 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.
Centrally located in West Palm Beach, the property most notably features Jack Nicklaus’ 300th Signature 18-hole course surrounded by West Palm Beach’s natural beauty. Extensive renovations to restore the golf course are well underway, including aeration and re-seeding of the course and tees, purchase of new maintenance equipment, landscaping of the course and lake areas, and bunker restoration with new white sand. The golf course will reopen on Sept. 30, 2023.
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, 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 brand and timeline for completion will be announced at a later date.