PANAMA CITY BEACH, FL—The Wyndham Bay Point Resort has a new owner. CAI Investment Series 2 acquired the property from Bay Point Resort Assets.

Located in Florida's growing panhandle region, the Wyndham Bay Point Resort sits on 321 acres at the tip of Bay Point with frontage and private beach access along Saint Andrew's Bay. Over the last 10 years, more than $25 million was spent on capital improvements to the hotel, golf course and golf villas, to build out a 12,000 square-foot spa.

CBRE represented the seller of the 319-room resort. Christian Charre, Paul Weimer, John Lamberson, and Natalie J. Castillo worked on the deal.

Located at 4114 Jan Cooley Drive in the Bay Point Resort Golf Club, Wyndham spans 235,032 square feet along the Saint Andrew's Bay in Panama City Beach, FL. Financial terms were not disclosed.

“The Wyndham Bay Point is a complicated property with a lot of moving parts but it also affords tremendous upside once repositioned,” says Weimer. “Despite numerous challenges, we were able to produce nearly two dozen competitive and qualified offers.”

The Wyndham Bay Point Resort offers over 40,000 square feet of flexible indoor/outdoor function space. The resort has six pools, two whirlpools, two fitness rooms, five tennis courts, a children's playground and two 18-hole golf courses, including the only Jack Nicklaus golf course in Northwest Florida.