MIAMI—Carey Watermark Investors (CWI) justgrabbed the Sawgrass Marriott Golf Resort & Spa, a 511-unitgolf resort and spa in Ponte Vedra Beach, FL. CWI acquired theasset from an affiliate of Goldman Sachs andPetra Capital Management. Financial terms of thedeal were not disclosed. The resort last sold in 2006 for $220million.

“The Sawgrass Marriott Golf Resort & Spa is well-positionedas one of Florida's leading resorts, offering unparalleled accessto PGA-affiliated golf facilities and unique beachfront clubamenities,” says Michael G. Medzigian, CEO Officerof CWI. The resort is located 18 miles from Downtown Jacksonvilleand offers direct access to two championship golf courses,including the world-renowned Stadium Course at TPC Sawgrass.

According to CWI, it's all-in basis is attractive compared toboth replacement cost and sales of comparable resorts. The resortsaw a $20.3 million renovation in early 2014. CWI plans to investan additional $25 million to further to improve the property.