ST. PETE BEACH — A South Florida real estate firm has purchased the TradeWinds Island Resorts for an undisclosed price.
Joseph Smith, CEO of investment firm 1754 Properties, said the sale closed Thursday. He declined to give further details but said his firm would release more information on Monday.
The two-hotel resort is the largest in Pinellas County, taking up 31 acres of white sand.
TradeWinds CEO Tim Bogott formed an investment group to acquire the resort’s prior parent company in 1999. Since buying the property, Bogott has spent more than $60 million renovating the resort.
There are now 800 rooms, 14 bars and restaurants, and seven pools between the property’s Island Grand and RumFish Beach Resort.
The new owners are based in Coral Gables. The group’s website says it focuses on hotels a in locations with populations of more than a million people.
The firm says it focuses on properties with values between $15 and $100 million.