Jungle Island has sold to ESJ Capital Partners for $60 million. In the deal, $15 million will be cash and the rest of the $45 million will include the assumption of the the current mortgage on the property. The deal transfers the existing lease on the city owned Watson Island to ESJ Capital Partners. The new owners plan to add over 7 zip lines and a water park for the summer to the 18-acre attraction on Watson Island, right off of the MacArthur Causeway. The renovations will come over three-phases over 2 years with the plan to increase the number of visitors and revenue. A 260-room hotel has also been proposed but requires a voter referendum from the City of Miami. Other upgrades to the facilities will include a private beach club, updated dining and food facilities as well as banquet facilities. Jungle Island will still be managed by John Dunlap and Iconic Attractions Group.
“This is a once-in-a-lifetime opportunity to capitalize on the heritage of Parrot Jungle, then Jungle Island, and create a truly unique experience within an urban setting,” said Gabriel Amiel, Chairman and co-Founder of ESJ Capital Partners.