Private equity real estate firm Henderson Park has completed the acquisition of the PGA National Resort in Palm Beach Gardens, Fla., in partnership with the Salamander Collection and South Street Partners from a Brookfield Asset Management private real-estate fund.
Originally opened in 1981, the PGA National Resort has 360 guestrooms and 99 holes of championship golf, including the Champion Course, the host since 2007 to a PGA Tour event now called The Cognizant Classic which is broadcast by NBC and The Golf Channel at the end of February.
With a total of six golf courses designed by Jack Nicklaus, Arnold Palmer, Tom Fazio, Andy Staples and Karl Litten, the resort has staged the 1983 Ryder Cup, the 1987 PGA Championship and multiple Senior PGA Championships.
The resort also has a 40,000-square-foot spa designed by V Starr, six restaurants spearheaded by The Butcher’s Club from “Top Chef”-winner Jeremy Ford and Honeybelle from Lindsay Autry and the Sports & Racquet Club.
Building on a recently completed $100 million renovation, the new ownership will launch further improvements, including the addition of a new pool and updates to the golf experience for both members and resort guests.
“PGA National is one of the most iconic golf resorts in America and we are excited to share our authentic and diverse style of hospitality which guests enjoy at our other destinations,” Salamander Founder and CEO Sheila Johnson said in a statement.
“PGA National Resort is a storied property in a growing and highly desirable sub-market, with further opportunistic potential following a recently completed renovation,” said Nick Weber, CEO and founder of Henderson Park. “Our experience executing across both premier destination resort hotels and one-of-a-kind club memberships uniquely positions Henderson Park as the new owner and we will work with our partners to enhance the resort’s offering into the future.”
“We are very excited to be stewards of PGA National, historically one of the most dynamic golf destinations in the U.S.,” said Rob Duckett, Henderson Park managing director, golf and club operations. “Our plans include further enhancing the facilities while enriching the experience provided to our members and guests.”
Henderson Park was advised by Jones Day. Eastdil Secured represented Brookfield in this transaction.