Jeff Greene sold the Tideline Palm Beach Ocean Resort & Spa to an affiliate of Fort Partners for $150 million, The Real Deal has learned.
Greene confirmed the nine-figure sale, which includes the real estate as well as tangible and intangible personal property such as branding, fixtures and furniture.
The 134-room, five-story hotel sits on 3 acres at 2842 South Ocean Boulevard. Property records show the hotel spans 100,000 square feet. The price breaks down to $1.2 million per room and $1,500 per square foot.
The deal follows Greene’s $20 million renovation of the resort, completed in 2023, and comes a year after the 71-year-old Palm Beach resident tapped New York-based Eastdil Secured Savills to explore marketing the hotel. Sources told The Real Deal Eastdil Secured’s Jeff Davis brokered the sale.
A spokesperson for Eastdil Secured declined to comment, and a spokesperson for Fort Partners did not immediately respond to a request for comment.
“Its the kind of property that friends of mine said ‘don’t ever sell it,’ but I only have so much energy and time,” Greene told The Real Deal.
That energy and time is going toward his new hotel venture, Greene House in West Palm Beach, which he said is expected to open in the next few months with 200 rooms, fine-dining concepts, padel courts and a spa. Part of One West Palm, designed by Arquitectonica, the project’s two 30-story towers at 550 North Quadrille Boulevard span 825,000 square feet across 3.3 acres and are set to include 200,000 square feet of office space and more than 180 residential units.
Greene paid $41 million ($306,000 per key) for the Tideline in 2011, which went by The Omphoy at the time. The property debuted in 1979 as the Palm Beach Hilton.
Greene’s renovation included a private beach, 6,000-square-foot spa, private-event facilities, restaurant and sushi bar. On-site dining and amenities at the resort include Amalfi Palm Beach, Mizu and After Six, plus a pool and fitness center.
Eastdil Secured, Greene’s broker in the Tideline deal, also represented the Lewis family in 2024 for the $277.4 million sale of the 310-unit oceanfront Eau Palm Beach Resort & Spa in Manalapan, situated south of the Tideline, to billionaire and Oracle co-founder Larry Ellison.
In July, Fort Partners obtained $341 million refinancing for the Four Seasons Resort Palm Beach at 2800 South Ocean Boulevard. Eastdil Secured represented Fort Partners in the loan, which JPMorgan and Citi Real Estate Funding boosted by $103 million from its existing balance of $238 million, records show. Developed by Key International and completed in 1989 as the Ocean Grand, Four Seasons took over management in 1994. Fort Partners acquired the hotel in 2014 for an undisclosed price and completed a major renovation in 2019.
Fort Partners owns all four Four Seasons-branded hotels in South Florida which include the Four Seasons Hotel Miami in Brickell, the Four Seasons Hotel and Residences at The Surf Club in Surfside and the Four Seasons Hotel and Residences Fort Lauderdale. It developed the ones in Surfside and Fort Lauderdale, and paid $130 million in 2021 for the one in Brickell.
The developer partnered with Ugo Colombo’s CMC Group to build the Four Seasons Private Residences Coconut Grove, which secured a $323.8 million construction loan in January from Bank OZK and is expected to be completed in 2028.
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