The real estate development and investment firm Mast Capital, in partnership with Koch Real Estate Investments, has acquired The Islands of Islamorada Resort, a luxury resort in Islamorada, Florida, from the Frisbie Group. The financial terms of the deal were not disclosed.
The resort is based in the Upper Keys, roughly 90 minutes from Miami, and encompasses 22 private oceanside villas and eight hotel suites located along approximately seven acres of shoreline. The property also features two oceanfront swimming pools, a private beach, a private marina with boat slips, and a beachfront bar and a fitness center.
The new owners plan to reanimate the sales and marketing for the property’s villas. Ocean Sotheby’s International Realty will serve as the property’s exclusive sales broker.
“The Florida Keys represent one of the country’s most supply-constrained hospitality markets, where exceptional waterfront assets continue to benefit from strong long-term demand and high barriers to entry,” said Jordan Kornberg, chief investment officer, Mast Capital. “The Islands of Islamorada offers villa buyers a unique opportunity to own a newly built, high-quality residence in the heart of the Florida Keys with the lifestyle of a luxury resort and ability to generate income through the resort’s rental program.”
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