The The Islands of Islamorada resort comprises 22 oceanfront villas and eight suites spread across roughly three hectares of shoreline, 90 minutes from Miami. It offers two oceanfront pools, a private beach, two pickleball courts, two play areas, a beach bar and a gym, along with a private marina with slips for boats, paddleboards, kayaks and sailboats, plus event spaces.
The new ownership group plans to relaunch sales of the 22 oceanfront villas, with Ocean Sotheby’s International Realty acting as exclusive sales agent. Priced from $3.8 million, these fully furnished standalone residences span 378 square metres across three levels, featuring four bedrooms, four bathrooms, covered loggias overlooking the water, a double garage fitted with an electric vehicle charging point, integrated home automation, and hurricane-resistant concrete block construction.
Jordan Kornberg, Chief Investment Officer at Mast Capital, noted that the Florida Keys represent one of the tightest hospitality markets in the country, where exceptional oceanfront properties enjoy strong long-term demand and high barriers to entry. He added that the deal offers villa buyers a newly built residence at the heart of the Keys, combining a luxury resort lifestyle with the ability to generate income through the property’s rental programme.
Scott Wadler, for his part, said the financing reflects lenders’ continued confidence in well-capitalised developers pursuing differentiated investments in supply-constrained markets, noting that the combination of an exceptional location, a luxury hospitality product and an experienced ownership group allowed the deal to close quickly.
The acquisition strengthens Mast Capital’s Florida hospitality portfolio, which already includes the Little Palm Island Resort & Spa, a Relais & Châteaux, three-Michelin-key property in the Keys accessible only by boat or seaplane, as well as the Saddlebrook Resort in Tampa Bay, recently reopened following a full renovation. The company is also developing several large-scale residential projects in Florida, including The Perigon Miami Beach with Starwood Capital Group and Banyan Tree Residences West Palm Beach, Banyan Tree’s first residential project in the United States.
