Search
 

Concord Wilshire Sells Interest in Diplomat Golf Resort for Nearly $45M

PPG Development Group is leading the ownership group along with his capital partner, Michael Herman of Premium Capital.

Concord Wilshire originally acquired the property in 2014 and successfully obtained approvals in 2016 for a major resort expansion consisting of four towers of 1,188 additional hotel rooms and condominium residences. Concord Wilshire originally acquired the property in 2014 and successfully obtained approvals in 2016 for a major resort expansion consisting of four towers of 1,188 additional hotel rooms and condominium residences.

HALLENDALE BEACH, FL—Concord Wilshire reports it has sold the majority interest in the Diplomat Golf Resort & Spa here for approximately $44.5 million.

The firm, headquartered in Marietta, GA sold its majority interest to Maltese Diplomat Owner, LLC. Diplomat Golf Course Venture, LLC, an affiliate of Concord Wilshire, remains an equity partner in the new ownership group led by South Florida developer Ari Pearl and his PPG Development Group.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

More from this author

Recommended Stories

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.