The Boca Resort is a luxurious resort located in Boca Raton, Florida. This iconic resort has been a popular destination for tourists and locals alike for many years.
But, have you ever wondered who owns this magnificent property? In this article, we will explore the history of the Boca Resort ownership.
The Early Days
The Boca Resort was originally built in 1926 by architect Addison Mizner. The resort was created as a playground for the wealthy and quickly became a popular spot for celebrities and politicians. During World War II, the resort was used as an army barracks and later as a training facility for the Air Force.
Ownership Changes
Over the years, ownership of the Boca Resort changed hands several times. In 1969, Jayne Mansfield’s husband Mickey Hargitay purchased the resort but sold it just a year later to developer George Barbar. Barbar renovated and expanded the property during his ownership.
In 1981, hotelier Henry Silverman purchased the Boca Resort and continued expanding it into a world-class luxury resort. Silverman added a golf course and spa to the property during his ownership.
Blackstone Group Ownership
In 2004, private equity firm Blackstone Group purchased the Boca Resort from Henry Silverman’s company Cendant Corporation for $243 million. Blackstone invested millions into renovating and upgrading the property over several years.
In 2009, Blackstone sold the Boca Resort to KSL Capital Partners for $433 million. KSL continued to invest in upgrades to keep up with competition from other luxury resorts in South Florida.
Current Ownership
Today, after several changes of ownership over its long history, the Boca Raton Resort & Club is owned by MSD Partners – an investment firm that manages capital exclusively on behalf of Michael Dell’s family and their related entities. The resort continues to be a popular destination and a symbol of luxury in South Florida.
Conclusion
In conclusion, the Boca Resort has had a long and storied history of ownership changes. From celebrities to private equity firms, the resort has changed hands several times. Today, it is owned by MSD Partners and continues to be a top luxury destination in South Florida.