The $700 million Sunseeker Resort in Charlotte County is being sold for less than a third of its construction cost, just 18 months after opening its doors. The future of the resort, and its employees is uncertain.
Allegiant Travel Company announced Monday it’s selling the Sunseeker Resort to Blackstone, one of the world’s largest investment firms, for $200 million. That’s a steep drop from the more than $700 million Allegiant spent to build the luxury waterfront property, which opened just 18 months ago.
Watch Fox 4’s Alex Orenczuk report on the future of the Sunseeker Resort:
SUNSEEKER: Blackstone’s plan for the property uncertain after $200M acquisition
“What I think is positive here is Blackstone is a huge player,” said Michael Landsberg, Chief Investment Officer at Landsberg Bennett Private Wealth Management. “This isn’t just one of the private equity players, this is one of the premier players in private equity, in particular, in real estate.”…