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CoreStates Affiliate Acquires Sundial Beach & Golf Resort

8/6/2012

SANIBEL ISLAND, Fla.—An affiliate of CoreStates Capital Advisors, LLC announced recently the purchase and planned multimillion-dollar refurbishment of Sundial Beach & Golf Resort in Sanibel Island, Fla. The seller and transaction price for the 407 all-condominium gulf-front resort were not disclosed. Extensive renovations to the resort are scheduled to begin as soon as possible.

The enhancement of the resort will encompass upgrades to the resort buildings’ exterior, public space, food and beverage outlets, banquet facilities, pool, fitness center, lobby, and front desk areas.

“The opportunity to acquire the beautifully located resort and realize its potential is exciting,” said William Spiropoulos, president and chief executive officer of CoreStates, in an announcement. “We have assembled a strong team to lead the management and renovation and have confidence in the potential of a new Sundial Beach Resort.”

The resort is located on eight-and-a-half acres on Sanibel Island in Southwest Fla. and is a neighbor to Captiva Island. The 407 accommodations range from studios to three-bedroom condominiums with garden and gulf views. The updated pool complex will provide a remodeled pool slide and kid-friendly water features.

CAM Hospitality Advisors & Management has been awarded the management contract.

Amenities on property include five swimming pools, fitness facility, game room, nature center, 12,000 square-feet of flexible function space, tennis courts, and access to an 18-hole golf course.

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