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Keen-Summit to Oversee Sale of Banyan Cay Golf & Resort in West Palm Beach
Keen-Summit Capital Partners LLC has been retained, under a Federal Bankruptcy Court Order, to market and run the competitive sale of Banyan Cay Golf & Resort, a 250-acre luxury resort property in West Palm Beach that includes a nearly-completed 150-room Hyatt-branded boutique hotel; a 130-acre golf course designed by golf legend Jack Nicklaus; and development sites approved for 179 condo units, and 22 villas plus additional development land.
The property’s current developers, owners, and operators Banyan Cay Resort & Golf LLC, filed for Chapter 11 reorganization in March. The golf course – which has been open since 2017 – has approximately 200 members, and the hotel is nearly completed.
According to Matthew Bordwin, Principal/Co-President of Keen-Summit Capital Partners LLC, several offers were received and stalking horse contracts selected for all of the debtors’ properties.
The auction is set to take place on June 13 with a bid deadline of June 8.