Sculptor Capital Management and its minority joint venture partner are putting together a large acquisition financing package to buy a marquee beachfront resort and two golf properties on Florida’s Marco Island, according to bond-rating firm reports.
The joint venture that includes Trinity Fund Advisors plans to acquire the JW Marriott Marco Island Beach Resort, Hammock Bay Golf & Country Club and The Rookery at Marco for $835 million plus fees, using a $690 million floating‑rate commercial mortgage loan and about $209 million of equity, S&P Global Ratings and Fitch Ratings said in their analysis of a future commercial mortgage-backed securities offering.
The Marco Island transaction stands out for both its size and timing. At a moment when many hotel loans face refinancing pressure, lenders are still backing trophy leisure assets with strong cash flow and brand affiliation.
The deal backs the second-largest single‑asset hotel transaction to reach the CMBS market this year. The largest was Blackstone’s $3 billion refinancing of The Cosmopolitan in Las Vegas.
The collateral is anchored by the JW Marriott Marco Island Beach Resort, an 809‑room luxury beachfront hotel spanning roughly 28 acres in the Naples market of Southwest Florida. The resort includes extensive meeting space, multiple food‑and‑beverage outlets, a spa, and private beach access.
Hotel performance in Naples has accelerated this year, according to Chantal Wu, senior director of hospitality market analytics for CoStar. Through March, the 12-month revenue per available room rate grew by 4.5%. The luxury and upper upscale segments led the way with a 12-month revenue per available change of 4.9%.
The positive momentum in the luxury segment is expected to continue throughout 2026, according to Wu, but the sector is getting more crowded.
Naples “is expected to benefit from an uneven economic rebound, in which affluent consumers continue to indulge in travel experiences,” Wu told CoStar News. “On the supply side, the Marco Island property will encounter competition as the 331-room JW Marriott Naples broke ground last November. The groundbreaking came on the heels of the opening of the 198-room Naples Beach Club, a Four Seasons resort, which debuted during the same month. The luxury supply landscape will become more crowded when the JW Marriott Naples opens in 2027.”
The JW Marriott Marco Island Beach Resort acquisition loan also covers two nearby 18‑hole championship golf courses — Hammock Bay Golf & Country Club and The Rookery at Marco — that are integrated into the resort’s operations and membership program.
Bond-rating firms described the properties as high‑quality, destination assets that dominate their local competitive set.
The CMBS mortgage loan will be issued through JW 2026‑MRCO, a single‑borrower transaction expected to close by May 15, according to the reports. Wells Fargo Bank and JPMorgan Chase are co‑originating the loan.
The debt carries an initial two‑year term, with three one‑year extension options, and remains interest-only throughout its fully extended term.
The buyers plan to complete targeted capital projects at the property, with reserves built into the financing for near‑term repairs and future renovations, according to the bond-rating firms.
Sculptor Capital did not immediately respond to a request for comment from CoStar News.