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Hawk's Cay Sold, $27 Million Renovation Coming

March 5, 2007 By: Joe Pike Travel Agent

Hawk's Cay Resort, located at Mile Marker 61 on Duck Key in Florida, has been sold, will undergo $27 million in renovations and might be renamed. Aztec Group, Inc., a Florida real estate investment and merchant banking firm in Miami, recently announced the sale. 

Aztec represented Hawk's Cay Investors, Ltd. in its
disposition of the property to NVHG Acquisitions, LLC, an entity controlled by
Northview Hotel Group and Behringer Harvard.

Northview is planning to invest about $27 million to
renovate and upgrade the resort and its amenities. Simon Hallgarten, partner in
Northview, says Northview will manage Hawk's Cay and is still deciding whether
or not to rename the well-known Florida

Rendering of renovated king guest room"There's part of us that thinks we shouldn't change the
name of something that is already well-known, already has a loyal
following," he says. "And there's also a part of us that thinks since
this is practically going to be a totally new product, we should give it a new
name. We'll have to wait and see."

Hallgarten says none of the villas will be touched in the
major renovation plans, which will begin as early as the summer, but the hotels
portion of the resort will undergo a full makeover. Some of the upgrades
include renovations to guest rooms, the lobby, restrooms and windows.

Northview is currently partnering in several projects,
including properties in Washington, D.C. and Maryland,
but this is the first one that it will manage.

"Our goal is to acquire one more, maybe two more
properties in the next year," Hallgarten says. "We are always looking
to continue to grow our small company."

Hawk's Cay Resort, the largest resort in the Florida Keys, sits on 59 acres and was originally built
in 1959. The property currently features a 177-room hotel, 297 privately owned
guest villas, six food and beverage outlets, a 25,000-square-foot convention
center, 52-slip marina, dolphin training facility, spa, children's clubhouse,
employee housing, five pools, eight tennis courts and a saltwater lagoon.

What do you think of this $type?

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