BRE/SOUTHSEAS RESORT OWNER LLC sold the properties located at 2800-5640 SOUTH SEAS PLANTATION RD and 14830 CAPTIVA DR CAPTIVA FL 33924 to WS SSIR OWNER LLC on September 27 2021 for $50,380,117.00. (Land only, no information on total sale price)
Gregory Spencer is the managing member of WS SSIR Owner LLC, a Delaware Trust, authorized to do business in Florida as of August 2021. The Special Warranty Deed was prepared by Chauncey M. Swalwell of Goodwin Procter LLP based in Los Angeles California. WS SSIR OWNER consists of three companies — Timbers Co., Wheelock Street Capital and The Ronto Group. The diverse group bought the 330-acre resort are uniquely positioned to bring some changes to the 75-year-old property.
Boston-based Wheelock, a private real estate investment firm, provided the capital for the purchase. Winter Park-based Timbers, a resort company and Naples-based Ronto, a real estate developer, will manage and develop it.
According to a statement issued by the companies, the three “plan to elevate the guest experience with expanded services and amenities while working on future plans to reimagine and restore the famed South Seas Island Resort to its original grandeur.”
Anthony Solomon, Ronto’s owner, says it’s too early to share details of what changes are coming, but says there are plans for capital improvements and upgrades to the property. And, he says, there will be increased staffing and staff training to improve the customer experience.
The original resort, South Seas Plantation, was opened in 1946 as a fishing resort by Clarence Chadwick, following a dry hurricane (salt-water storm surge kills the plants) which ended commercial farming on the island. Chadwick owned much of Captiva and portions of nearby Sanibel, making his fortune inventing the Checkprinter in the 1920s. His heirs sold the property to Mariner Properties in 1966, which began the modern era of the resort.
Link to the History of South Seas by Susan Holly