The Wills Companies, a reputable real estate development firm, has recently completed the acquisition of The Islands of Islamorada luxury resort in Islamorada, Florida, from The Frisbie Group of Palm Beach. The transaction, which amounted to $72 million, was financed by City National Bank of Florida with strategic guidance and underwriting provided by Metropolis Capital Advisors.
“The Frisbie Group has created a truly special destination in Islamorada, and we are committed to continuing that legacy of excellence,” said Tim Wills of The Wills Companies. “The Islands of Islamorada presents an infinite array of opportunities for future homeowners. Imagine owning a piece of paradise, steps from the beach, with all the amenities of a world-class resort at your fingertips. It’s truly an unparalleled lifestyle.”
The Islands of Islamorada, a newly built resort in the Upper Keys, consists of 22 waterfront villas and an oceanfront eight-unit suite hotel. The Wills Companies, in partnership with Urgo Hotels, Indigo Hotel Group LLC, Badlands Hotel Capital, Dolben Company, and other prominent investors, intends to maintain the existing five-star luxury resort while introducing the 22 waterfront villas as luxury residential units available for purchase for the first time. Each residence boasts four bedrooms, full kitchens, and outdoor leisure spaces.
The distinctive ownership model of the resort homes will enable residents to relish a maintenance-free resort lifestyle while also enjoying passive income from the rental operation. Prospective buyers can benefit from significant tax advantages through 1031 exchanges. The gated property offers an array of amenities, including pools, a Tiki Bar, Pickle Ball courts, a private beach, a marina, watersports, and a driving range that launches biodegradable golf balls into the ocean.
Tim Wills of The Wills Companies expressed enthusiasm about continuing the tradition of excellence established by The Frisbie Group at The Islands of Islamorada. He highlighted the remarkable opportunities available for future homeowners, emphasizing the unparalleled lifestyle of owning a piece of paradise with resort amenities at their disposal.
Ocean Sotheby's International Realty, a key partner in the transaction, will oversee the sale of the single-family homes at the resort. With a wealth of experience and market knowledge, Ocean Sotheby's International Realty, led by Russell Post since 2010, played a crucial role in finalizing the deal.
Located in the esteemed Village of Islamorada, the resort is situated in a prime location within the "Sportfishing Capital of the World." Residents will have easy access to an array of outdoor activities, including fishing, diving, snorkeling, and boating, as well as nearby dining establishments, shops, and galleries.
The acquisition of The Islands of Islamorada by The Wills Companies marks a significant development in the real estate landscape of the Florida Keys, offering potential buyers a unique opportunity to own a luxurious waterfront residence with resort-style amenities in a sought-after destination.
Images via 1OAK Studios and Sargent Photography