The World Golf Village Renaissance St. Augustine Resort sold July 3 for $24.25 million.
Phoenix-based Riverstone Residential Group, through Atrium Finance IV, sold the St. Johns County property.
SUN Development & Management Corp., through St. Augustine Lodging Associates LLC of Indianapolis, bought the hotel.
The company already added the hotel to its website.
According to the recorded deed, the purchase includes only the hotel and not the attached convention center, which is owned by St. Johns County.
The 301-room hotel at 500 South Legacy Trail opened in 1988 alongside World Golf Village. It operates under the Renaissance Hotels brand managed by Marriott, though the deed includes no language preventing a change in branding.
The property is west of Interstate 95 north of International Golf Parkway.
The hotel sale is the latest development in World Golf Village’s transition. The World Golf Foundation closed the Hall of Fame in 2023 and relocated it to Pinehurst, North Carolina. The adjacent IMAX theater closed in late 2024.
A lawsuit is ongoing against developer SJIT Land, formerly Fletcher Daviston, seeking to lift land-use restrictions that the foundation argues make the property it still owns effectively worthless and unsellable. The restrictions limit land use to a Hall of Fame, PGA Productions, an IMAX or similar attraction, and an 18-hole golf course and clubhouse for another 25 years.
In April 2024, the county approved a $5.5 million purchase-and-sale agreement for the PGA Entertainment Building and 36 surrounding acres, including parking and a pond. However, the deal fell through when the land-use restrictions came to light.
Because the restrictions are private, only the developer can remove or amend them. St. Johns County has no authority over them.
As the lawsuit continues, the county issued a request for proposals June 18 seeking an open-ended project that “serves the best interest of the County, and the Parties are able to successfully negotiate a contract for such partnership.”