(Story updated to add new information)
The iconic JW Marriott Marco Island Beach Resort on Marco Island is being sold, and the new owners plan major renovations.
Barings LLC, the $481 billion asset management arm of insurer MassMutual is selling the luxury hotel operated by Marriott International, along with its Hammock Bay and Rookery golf courses in Naples, to Sculptor Diversified Real Estate Income Trust, Inc., for $835 million cash, according to a filing with the U.S. Securities and Exchange Commission. The Marriott did not return a request for comment by deadline.
One of the few JW Marriott properties located directly on the beach, Marco Island’s resort opened Dec. 18, 1971, as a Marco Beach Hotel and Villas. Built by the Mackle brothers and their Deltona Corporation development company, the property was sold to Marriott in 1979. It was later sold to MassMutual.
When did Marco Island’s Marriott become a JW Marriott?
On Jan. 1, 2016, after $320 million in renovations, the Marco Island Marriott officially re-branded itself as the luxury-tier JW Marriott Marco Beach Resort. The brand operates more than 100 hotels globally, with select, dedicated luxury beach resorts in key destinations including Marco Island, Los Cabos (Mexico), and Phuket (Thailand). These properties focus on direct beach access and high-end amenities.
The Marco Island hotel expanded its restaurant options, remodeled and built a new tower with adults-only suites and an adults-only bar, along with a gaming and bowling alley open to all guests and the public. The property currently has three towers – the Palms Tower (built in 1972 and renovated in 2016), the Islands Tower (built in 1982 and renovated in 2016) and the Lanai Tower (built in 2019).
Sculptor Diversified plans renovations, mostly in year two of ownership, the company said in a Feb. 27, 2026, SEC filing. “The renovations will focus on upgrading the property’s amenities (including upgrades to the spa, pool and golf courses) and renovating the guest rooms.”The deal, officially with Marco Hotel LLC and HB Naples Golf Owner LLC, is scheduled to occur on or before May 1.
Who is the company buying the Marco Island JW Marriott?
Sculptor Diversified is a 31-year-old company that has been investing in real estate for 20 years, with hotels – mostly in Europe – among its assets. Managed by Sculptor Real Estate, the company reported a total net asset value (NAV) of approximately $519.4 million as of Dec. 31.
With offices in New York, London, Hong Kong and Abu Dhabi, the company invests across credit, real estate, and multi-strategy platforms in all major geographies, according to its website.
Sculptor Diversified is a private, non-traded real estate investment trust, or REIT.
What is a real estate investment trust?
A REIT is a company that owns, operates or finances income-producing real estate. Modeled after mutual funds, REITs historically have provided investors with regular income streams, diversification, and long-term capital appreciation. The income vehicle allows investors to own real estate without having to manage it.
Most REITs are public companies that trade on major stock exchanges, but other types of REITs are available to private investors.
J. Kyle Foster is a senior growth & development reporter for The News-Press & Naples Daily News. Reach her by emailing jfoster1@usatodayco.com.
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This article originally appeared on Naples Daily News: Marco Island’s JW Marriott sold. Find out to whom and for how much
Reporting by J. Kyle Foster, Fort Myers News-Press & Naples Daily News / Naples Daily News
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