Sandestin Resort Being Sold to Local Developer

Sandestin is a large resort located in South Walton, just off the Scenic Highway 30A, and has much to offer. The property extends from the beach to the Bay and includes golf courses, hotels, single family homes, tennis, full marina with boat slips, a downtown shopping and dining area, and much more. Early last year, it was announced that negotiation were under way for a sale of the property. Yesterday, it was confirmed through Intrawest via the following press release:

“Intrawest, a leader in the development and management of experiential destination resorts, today announced a definitive purchase agreement to sell its interests in Sandestin Golf and Beach Resort to the Becnel family of Destin, Florida. Specific terms of the agreement were not disclosed and the transaction is anticipated to close in the first quarter of 2010.

The purchase agreement also includes the management contracts for Cottage Rental Agency, a community of beach homes located in Seaside, Florida and two hotel properties, The Marriott Residence Inn and The Marriott Courtyard, both located at Sandestin.

Once the transaction is finalized Intrawest and the Becnel family are committed to work together to ensure a smooth transition of ownership. Sandestin Golf and Beach Resort, Cottage Rental Agency and the Marriott hotels will continue to operate “business as usual” and the resort management teams will continue their commitment to delivering excellent guest service and experiences.”

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