Saddlebrook Resort developer lands $72.5 million loan for renovation
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Dec 17, 2024

The South Florida developer in the midst of renovating Saddlebrook Resort in Pasco County has secured a $72.5 million loan for the project.

Mast Capital, which acquired the 480-acre resort in 2022 in partnership with Amzak Capital Management, said Tuesday that it has secured the loan from Beach Point Capital Management. The loan will be used to pay for the ongoing $92 million renovation of the resort, which touches everything from guestroom suites and lobby and meeting spaces to the pool and outdoor facilities. The golf course and food and beverage destinations, as well as landscaping, sports facilities and lifestyle amenities will also be upgraded, the developer said.

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