South Seas purchases Rauschenberg property on Captiva

CAPTIVA ISLAND, Fla., March 31, 2026 /PRNewswire/ -- South Seas announces the successful acquisition of a 22-acre property, formerly owned by the Robert Rauschenberg Foundation, that spans from beach to bay on Captiva Island.

South Seas purchased the property from the Foundation, which served as its owner following the 2008 passing of Robert Rauschenberg, the 20^th-century American artist.

"Given its location, this sale offered us a rare and compelling opportunity to acquire prime beachfront directly adjacent to our established resort, creating a seamless opportunity for integration and enhancements to the overall resort, including our new condominiums, hotels, and world-class amenities. We look forward to honoring the legacy of this amazing artist through future art-related programming and by incorporating several buildings from the property into our resort," said Greg Spencer, president of South Seas.

The property, which runs along Laika Lane and Captiva Drive adjacent to South Seas and Captiva Village, includes 10 buildings and spans extensive waterfront footage along both the Gulf and Pine Island Sound.

The purchase is another joint venture between Timbers Company, Wheelock Street Capital and The Ronto Group, which purchased South Seas in 2021. Under the joint ownership, the reimagined South Seas reopened in May 2025 with all new amenities including a new water adventure, Captiva Landing, spanning over 2.5 acres and featuring a dynamic collection of experience zones, including food and beverage offerings, tailored to every age and interest. Other new amenities include new dining options at the Beach House restaurant and Harborside Italian steakhouse, along with newly renovated marinas, docks, pools and more. Captiva Landing and all South Seas experiences are available to registered South Seas guests and Club Captiva owners. Additionally, a new expression of island living is on the horizon as the resort prepares to introduce a new luxury hotel as well as the Timbers Captiva Club & Residences at South Seas, a thoughtfully designed private residential experience — one that honors the spirit of the island while creating space for new traditions to take shape for generations to come. Inspired by Captiva's natural beauty and unhurried pace, the vision reflects a more intimate, design-forward approach to coastal living. The unveiling is anticipated this summer at South Seas. Visit TimbersCaptiva.com for more information.

Jonathan Paul, founding partner at Wheelock Street Capital, shared the company's focus on investing in luxury leisure destinations like Captiva: "Our continued investment in South Seas and recent purchase of the Rauschenberg property reflect our commitment to enhancing Captiva as a premier destination and creating long-term value for our investors while contributing to the economic vitality and character of the surrounding community."

While specific development plans have not yet been finalized for the recently purchased property, South Seas is exploring options that align with the reimagined resort. South Seas is also looking at ways to honor the legacy of Robert Rauschenberg and his visionary artistry as plans develop for the property.

About South Seas
Presenting classic island charm, the 330-acre South Seas is nestled among mangroves with more than half of the resort a dedicated wildlife preserve and estuary. Outstanding golf, famed fishing, boating, yachting and discovering storied barrier islands, flavorful dining and memorable island adventures are among the unforgettable experiences of a South Seas guest. The resort has been a cherished destination for more than 75 years. As a new chapter begins, one that has been inspired by the many past generations of guests and thoughtfully recast for the future South Seas is dedicated to delivering a resilient, world-class resort. SouthSeas.com

About the Timbers Company
Timbers Company is one of the leading developers and operators of luxurious properties located in the world's most sought-after destinations. Timbers Company serves as the parent company overseeing Timbers Resorts, Soleil Hotels & Resorts and Andiamo, a platform offering streamlined access to Timbers' global collection of bespoke vacation residences, complete with all the amenities of a five-star resort. Timbers' integrated capabilities encompass ground-up and value-add development, hospitality management, investment advisory, portfolio management, rebranding and repositioning, asset management, and luxury rental management. Their unwavering commitment is to curate unforgettable, genuine experiences for owners and guests, drawing inspiration from local culture and natural splendor. For additional details, please visit TimbersCompany.com.

About The Ronto Group
Since 1967, The Ronto Group has been perfecting their skills in real estate development through the creation of residential and commercial projects worldwide. For nearly forty years, Ronto has been developing in the Southwest Florida market, creating communities that celebrate the area's irresistible appeal, from Marco Island to Tampa. Ronto and its President and owner Anthony Solomon, have built a solid reputation for imaginative vision, steadfast integrity, and reliable performance. For more information, visit Ronto.com.

About Wheelock Street Capital
Wheelock Street Capital L.L.C. is a private real estate investment firm founded in 2008 by Merrick R. Kleeman and Jonathan H. Paul, two veteran real estate private equity investors, each with over 30 years of broad real estate transaction experience across all major asset classes. Wheelock has assembled a premier investment and asset management team and produced an over 10-year track record of demonstrated and consistent outperformance over industry benchmarks. Since inception, Wheelock has raised eight funds, representing over $5 billion in capital commitments and deployed over $11 billion in total value on behalf of well-known institutional investors. This includes a targeted $1.2 billion and $1 billion of capital that the Firm is currently deploying in its opportunistic/value-add vehicle and open-end long-term value vehicle, respectively. For more information, visit WheelockStreetCapital.

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SOURCE South Seas