Mast Capital and Amzak Capital Management have successfully obtained a $72.5 million loan from Beach Point Capital Management to fund the renovation of Saddlebrook Resort in Tampa. The 480-acre resort is currently undergoing a major transformation, with an estimated cost of $92 million. This extensive project includes redesigning guestroom suites, the lobby, meeting spaces, pool and outdoor facilities, golf course and dining options. Additionally, significant enhancements will be made to the landscaping as well as sports facilities and amenities.
In spring 2022,Mast Capital joined forces with Amzak Capital Management to acquire Saddlebrook Resort.Their future plans for development include building a town center that will feature 465 rental apartments,a pedestrian promenade,and25 townhomes.Additionally,the property grounds will also see construction ofa120-unit townhome communityand25 ,000 square feetof commercial space.
The joint venture between MastCapitalandAmzakCapitalManagement was represented by JLL’sCapitalMarkets team led by Chris Drew in securing this financing deal.This partnership marks another milestone for both companies as they continue their successful track record in real estate investment ventures.
