Northwood Investors acquires Cheeca Lodge & Spa

HFF closed the sale of the Cheeca Lodge & Spa, a luxury destination resort in the Florida Keys.

HFF marketed the property on behalf of the seller, Cheeca Holdings. Northwood Investors purchased Cheeca Lodge & Spa free of brand or management encumbrances.

Cheeca Lodge is situated on 27 acres with more than 1,200 linear feet of beachfront in Islamorada. Originally developed in 1946, the property was extensively renovated between 2003 and 2010, and the main lodge building was completely rebuilt in 2009. The luxury resort includes 214 units, a mix of hotel rooms and third-party owned condominiums, 5,439 square feet of function space, a Jack Nicklaus-designed nine-hole golf course, two swimming pools, a 5,500-square-foot spa, six tennis courts, and a fishing/mooring pier.

The HFF team representing Cheeca Holdings was led by executive managing director Manny de Zárraga and senior managing director Dan Peek.
 

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The two locally owned resorts join the Benchmark Resorts & Hotels brand as a result of the deal.

This is a once-in-a-lifetime opportunity to reconfigure hotels to help them easily transition to community service centers when needed.

The combined company now will own and operate a portfolio of 40 hotels totaling more than 5,000 guestrooms.