Michael Dell Family Office Acquires Boca Raton Resort & Club
Posted on 04/23/2019
MSD Partners, L.P. signed a deal to purchase the Boca Raton Resort & Club from an affiliate of the Blackstone Group. The deal is expected to close by the end of June 2019.
Built in 1926, the Boca Raton Resort & Club comprises of 1,047 hotel rooms across 337 acres. The property fronts both the Intracoastal Waterway and the Atlantic Ocean. Blackstone acquire the resort property in 2004 as part of a larger deal worth US$ 1.25 billion.
The property will continue to be managed by Hilton under the Waldorf Astoria Hotels & Resorts brand.
MSD Partners views the acquisition as a natural extension of its portfolio of luxury hotels and resorts. MSD Capital also is invested in Four Seasons properties in Wailea and Hualalai, and the Fairmont Miramar in Santa Monica. MSD Capital is the private investment firm for Michael Dell and his family.
Jeffrey Davis and Gregory Rumpel of JLL Hotels & Hospitality (Jones Lang LaSalle) led the marketing efforts for the resort on behalf the Blackstone Group.