Who owns the Wave Resort? It’s a question many people have been asking since the grand opening of this luxurious resort in 2019. The Wave Resort is a stunning beachfront property located in Long Branch, New Jersey, and has quickly become a popular destination for tourists and locals alike.
Background Information on Wave Resort
Before we dive into who owns the Wave Resort, let’s take a closer look at this beautiful property. The resort features 67 oceanfront rooms and suites that offer breathtaking views of the Atlantic Ocean.
It also has four dining options, including an Italian restaurant, rooftop bar, and coffee shop. Additionally, guests can enjoy a rooftop infinity pool, spa services, and access to the beach.
The Development of Wave Resort
Wave Resort was developed by Kushner Companies, a real estate firm owned by Jared Kushner’s family. Jared Kushner is best known as being an advisor to former President Donald Trump. He is also married to Ivanka Trump, the daughter of Donald Trump.
Kushner Companies purchased the land for Wave Resort in 2016 for $20 million and invested an additional $200 million into developing the property. The resort officially opened its doors in May 2019.
The Current Ownership of Wave Resort
In December 2020, it was announced that Kushner Companies had sold Wave Resort to a new owner – Fidelco Realty Group. Fidelco is a privately held real estate investment firm based in New York City that specializes in commercial properties such as hotels and office buildings.
The terms of the sale were not disclosed to the public. However, it is believed that Fidelco paid around $70 million for the property.
Conclusion
In conclusion, while Kushner Companies developed and operated Wave Resort for over a year before selling it off to Fidelco Realty Group, it is now under new ownership. Fidelco Realty Group is a well-respected real estate investment firm with a track record of success. It will be interesting to see how they continue to develop and operate the Wave Resort in the years to come.
If you are looking for a luxurious beachfront getaway, be sure to consider Wave Resort as your next vacation destination!
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