Insurer MassMutual has sold a luxury beachfront resort in the US to a joint venture between Sculptor Real Estate and Trinity Investments.
The JW Marriott Marco Island Beach Resort, located on Florida’s Gulf Coast has been sold for an unspecified amount.
Situated on over 26 acres with a quarter mile of private beachfront, the property features 809 guestrooms and suites, extensive meeting and event facilities and various dining and entertainment venues. It also offers a private membership club and access to more than 400 acres of additional golf and resort amenities.
Eric Partlan, MassMutual CIO, said: “The JW Marriott Marco Island is a high‑quality investment that has delivered long‑term value for our policyowners while serving as a pillar of the Marco Island community.
“Since acquiring the resort more than four decades ago, we have worked with our global asset manager, Barings, to ensure the property’s standing as a premier destination, and believe Sculptor Real Estate and Trinity are well-positioned to continue as stewards of this iconic property and members of the Marco Island community.”
Steven Orbuch, founder and president of Sculptor Real Estate, said: “The JW Marriott Marco Island is a truly distinctive asset within the luxury resort market. “We are pleased to partner with Trinity on this investment and believe the property is well-positioned to benefit from continued demand for high-quality resort experiences.
“We also see meaningful opportunity to enhance the Property’s competitive position through a disciplined capital improvement program over our ownership period, further unlocking the asset’s long-term value.”
Sean Hehir, managing partner, president and CEO of Trinity Investments, said: “The JW Marriott Marco Island is a once-in-a-generation opportunity to acquire one of the most iconic resorts in the US. With its scale and diversified demand generators, the resort has consistently demonstrated strong performance across market cycles.
“We are excited to partner with Sculptor Real Estate on this investment and to continue our long-standing relationship with Marriott, having successfully collaborated across multiple properties. We see significant opportunity to further enhance the guest experience while creating long-term value for our investors.”
The latest transaction expands Trinity’s portfolio in Florida, where the firm’s existing investments include The Diplomat Beach Resort in Hollywood, Grande Lakes Orlando Resort and EAST Miami.
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