Miami-based real estate developer Mast Capital just recently closed on the 480-acre Saddlebrook Resort Located in Tampa’s Wesley Chapel area at 5700 Saddlebrook Way, the property is home to a condo-hotel resort, 45 tennis courts, two 18-hole golf courses, and a tennis academy where some of the world’s top tennis players trained, including Jim Courier, Pete Sampras, Jennifer Capriati, Martina Hingis, James Blake, Mardy Fish, Andy Roddick, Jack Sock, Bob & Mike Bryan, Alexander Zverev, Mischa Zverev and John Isner. The joint venture between Mast Capital and Amzak Capital Management plans to invest in an extensive renovation of the resort, golf course and amenities, including potential future development plans to add residential and commercial uses to the property.
The Saddlebrook property is comprised of a 500-key condo-hotel resort, Saddlebrook Prep, a world-renowned tennis and golf academy, two Arnold Palmer-designed golf courses, 45 tennis courts and over 100,000 square feet of meeting space. Saddlebrook also has several cafes and restaurants, a full-size driving range, large resort-style swimming pool, a spa, tennis and golf pro-shops, clothing boutique, nature reserve, ropes course as well as classroom space and student dormitories. The resort was originally founded in 1981.
Aerial view of the 480-acre property. Photo courtesy of Saddlebrook Resort
“We recognize both the potential and the iconic status of this property, which is where some of the world’s most renowned tennis players trained. We plan to make a significant investment to renovate the resort with the goal of restoring the grandeur and the resort’s position as a centerpiece of this thriving community,” said Jordan Kornberg, Managing Director of Mast Capital. “This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area,” he added.
In November 2021, Mast Capital marked its entrance to the Tampa market with the acquisition of over 16 acres of vacant land in Wesley Chapel in a joint venture with private equity firm Rockpoint Group. The new ownership will develop a 248-unit luxury apartment community, with the project breaking ground this year.
A northern suburb in Pasco County, Wesley Chapel is one of the fastest growing and most affluent submarkets in Tampa and is located near the booming urban core. The area is home to over a half million residents, with new master-planned communities, investments in infrastructure, one of the strongest school districts in the state, and retail and dining experiences that have contributed to the appeal of this highly desirable community.
Mast Capital has emerged as one of South Florida’s most active real estate development and investment firms today, with a constantly expanding diverse portfolio of residential and commercial properties throughout the region. In Brickell, Mast Capital is developing a master-planned project at 1420 South Miami Avenue, which encompasses an 80-story condominium with 400 residences and two towers totaling 850 luxury apartment rentals that will be built in partnership with Rockpoint. In Miami Beach, Mast Capital plans to build an oceanfront condominium tower featuring 81 residences that will replace a 57-year-old residential building at 5333 Collins Avenue and a luxury residential development with 176 residences on 4000 Alton Road. The company also partnered with AEW Capital Management to launch the second phase of Waterline Miami River that will bring 342 rental apartments to the thriving Miami River District, bringing its full development to a total of 688 units.
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When will the renovation starts for Saddlebrook?