KDG Capital has acquired Hammock Beach Resort, one of the largest resort properties in Flagler County, Fla., from Lubert-Adler. The sales price was $18.3 million.
The resort will be managed by Texas-based Aimbridge Hospitality, and the Troon Group will take over operation of the two golf courses at the resort.
The sale includes resort amenities, including two ballrooms, the lobby, café and restaurants, but does not include residential units.
The new owner has plans to upgrade some of the existing amenities and has plans to build a 198-unit beachfront resort to replace the current building, known as the Lodge.
