The two companies originally acquired the 139-room resort in January 2021. Credit: GARAMH / Shutterstock.com.

US-based Loci Capital Group and HHM Hotels have completed the sale of The Islander Resort in Islamorada, Florida.

Financial terms of the transaction were not disclosed.

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Loci Capital Hospitality head Damien Greenwood said: “This exit represents the culmination of nearly six years of intensive asset management work. I am incredibly proud of the results.

“The ownership group executed a comprehensive renovation and repositioning of The Islander Resort, including entitling the resort for future expansion, which proved highly attractive to buyers.

“We are grateful for our partners’ collaboration throughout the investment.”

The independent property occupies a 22-acre site in the Florida Keys, comprising 139 rooms arranged across oceanside bungalows and bayside townhouses.

The two companies originally acquired the resort in January 2021 through Loci Capital’s debut opportunistic fund.

Investment and hotel management company HHM Hotels retained an equity interest and acted as an operating partner throughout the full investment cycle.

During the ownership period, the joint venture completed an extensive refurbishment programme across the property’s accommodation, dining facilities, and outdoor leisure spaces.

Upgrades included remodelling all 114 oceanside bungalows and 25 two-bedroom bayside townhouses, opening an oceanfront restaurant named Drift, and enhancing guest amenities and outdoor activities.

Loci Capital managing principal and investor relations head Casey Wilson said: “This sale continues our progress in realising investments and returning capital to our investors despite a difficult capital markets environment.

“Our ability to continue divesting assets and achieving our target returns reflects the discipline we bring to acquisition pricing, business plan execution, and partner selection.

“The Islander is another example of that approach translating into results for our investors.”