CoreStates Affiliate Acquires Sundial Beach & Golf Resort in Sanibel Island, Fla.
Ownership plans multimillion-dollar refurbishment of gulf-front resort
SANIBEL ISLAND, FL - July 27, 2012 - An affiliate of CoreStates Capital Advisors, LLC announced today the purchase and planned multimillion-dollar refurbishment of Sundial Beach & Golf Resort in Sanibel Island, Fla. The seller and transaction price for the 407 all-condominium gulf-front resort were not disclosed. Extensive renovations to the resort are scheduled to begin as soon as possible.
The enhancement of the resort that lies on 2,000 linear feet of gulf-front beach will encompass upgrades to the resort buildings' exterior, public space, food and beverage outlets, banquet facilities, pool, fitness center, lobby and front desk areas.
“The opportunity to acquire the beautifully located resort and realize its potential is exciting,” said William Spiropoulos, president and chief executive officer of CoreStates. “We have assembled a strong team to lead the management and renovation and have confidence in the potential of a new Sundial Beach Resort.”
The resort is located on eight-and-a-half acres on Sanibel Island in Southwest Fla. and is a neighbor to Captiva Island. The 407 accommodations range from studios to three-bedroom condominiums with garden and gulf views. The updated pool complex will provide a remodeled pool slide and kid-friendly water features.
To begin the transformation, Sundial Beach & Golf Resort has gathered a team of successful hospitality talent. CAM Hospitality Advisors & Management has been awarded the management contract.
Sundial Beach & Golf Resort currently offers a relaxing retreat with many recreational opportunities. Amenities on property include five swimming pools, fitness facility, game room, nature center, 12,000 square-feet of flexible function space, tennis courts and access to an 18-hole golf course.
For more information on Sundial Beach & Golf Resort, please contact (267) 759-5000 or email [email protected] and visit www.corestates.us.
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