Hawk's Cay Sold, $27 Million Renovation Coming

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 resort.

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.

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