MSD Partners, a company affiliated with billionaire Michael Dell, has plans to acquire Bacon Raton Resort & Club in Palm Beach County, Fla., from Blackstone Group.
Terms of the transaction, which is expected to close by the end of June, were not disclosed.
The property will continue to be managed by Hilton under the Waldorf Astoria Hotels & Resorts brand.
Built in 1926, the 1,047-room Bacon Raton Resort & Club is a 337-acre property with two 18-hole golf courses, a 50,000-square-foot spa, seven swimming pools, 30 tennis courts, a 32-slip marina, 13 restaurants and bars, and 200,000 square feet of meeting space.
The property fronts both the Intracoastal Waterway and the Atlantic Ocean, where its beach extends a half mile.
MSD Partners was formed in 2009 by the partners of MSD Capital, which exclusively manages the assets of Michael Dell and his family.
