The Sundial Beach & Golf Resort on Sanibel Island has sold for $2.3 million and will undergo extensive renovations.
The buyer is Sanibel Sundial Partners LLC, an affiliate of CoreStates Capital Advisors LLC in Pennsylvania. The deed was recorded July 18, according to Lee County court records.
Planned improvements at the 407 all-condominium Gulf-front resort will include upgrades to the exterior, the public space, the food and beverage outlets, the banquet areas, the pool, the fitness center, the lobby and the front desk areas.
"The opportunity to acquire the beautifully located resort and realize its potential is exciting," said William Spiropoulos, president and CEO of CoreStates, in a statement.
Improvements will include a remodeled pool slide and child-friendly water features.
Bonita Development buys Bonita Village development
Bonita Development Co. LLC has purchased a multi-family mixed-used development known as Bonita Village from Fifth Third Bank for $2.65 million.
The project, with more than 850 feet of frontage along Bonita Beach Road, has 80 existing condominiums and completed amenities that include a clubhouse, a fitness center and a 4,000-square-foot pool.
The property, near Vanderbilt Drive, was purchased as an investment. Gary Tasman of Cushman and Wakefield, Commercial Property Southwest Florida LLC negotiated the terms of the sale.
Zoning for future development includes 60,000 square feet of retail and a 40-room hotel.
Iberiabank Corp. OKs buying Florida Gulf Bancorp. Inc.
Iberiabank Corp has approved the purchase of Florida Gulf Bancorp. Inc.
Florida Gulf Bancorp, Inc. is the holding company for Florida Gulf Bank with headquarters in Fort Myers. As of June 30, Florida Gulf Bancorp had total consolidated assets of $357 million, $240 million in net loans, and $287 million in total deposits.
Iberiabank is a Lafayette, La.-based bank holding company with bank branch offices in Florida, Louisiana, Arkansas, Tennessee, Alabama and Texas.
Naples Family Fitness now open
A new fitness center, Naples Family Fitness, has announced its grand opening at the former site of the Lifestyle Family Fitness, 2349 Vanderbilt Beach Road, in the Shoppes at Vanderbilt, North Naples. The two-story, 31,000-square-foot fitness center has been refurbished and is open 5 a.m. to 10 p.m. Monday through Friday and 8 a.m. to 7 p.m. Saturday and Sunday.
The gym had faced the threat of permanent closure after LA Fitness, a national chain, recently completed a purchase of 32 of the 33 Lifestyle Family Fitness clubs in Florida. For more information, call 239-594-5050 or email firstname.lastname@example.org.
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