NAPLES — New York City based Northwood Investors acquired the 474-room Waldorf Astoria Naples and the Naples Grade Golf Course from investment firm Blackstone. Terms of the deal were not disclosed.
Originally known as the Registry Resort, Blackstone acquired the property as part of its 2004 acquisition of Wayne Huizenga's Boca Resorts, which also included the Boca Raton Resort and the Edgewater Beach Resort, among other assets.
“The market for Florida oceanfront resorts is not only back, it's thriving at a level that we have not seen since 2006 or 2007,” says senior managing director and head of HFF's hotel group, Daniel Peek, who managed the sale on behalf of Blackstone.
“The story is not just about Miami anymore. Investors and lenders are competing to enter all of the resort markets across the state,” says Peek, in a statement announcing the sale of the Naples luxury hotel.
Northwood Investors is a privately held real estate investment adviser that was founded in 2006 by John Kukral, the former president and CEO of Blackstone Real Estate Advisors. Northwood has raised approximately $2.8 billion of capital since inception and will continue to operate the hotel with a Waldorf Astoria brand affiliation.