Turnberry Associates


Turnberry Associates is a company owned by Donald Soffer and his family that develops real estate in the United States. It has developed over $7 billion worth of properties.
The company is named after the Turnberry luxury Scottish golf resort on the Ayrshire coastline.

History

In 1967, along with partner Edward J. Lewis of Oxford Development, Donald Soffer purchased of submerged and undeveloped swamp and marshland facing the Intracoastal Waterway in North Dade County.
In 1970, the company acquired Aventura Club and changed its name to Turnberry Isle Resort & Club.
In 1980, the company opened Turnberry Yacht & Racquet Club.
In 1983, the company opened Aventura Mall.
In the 1990s, the company began plans for Turnberry Place Las Vegas.
In the 2000s, the company built condominium towers at the Fontainebleau Miami Beach.
In 2003, the company partnered with MGM Resorts International to build The Signature at MGM Grand.
In 2011, the company sold an office building in Aventura, Florida for $53 million.
In 2014, the company announced plans to build a 35-story luxury JW Marriott hotel in Nashville.
In 2016, the company broke ground on Turnberry Ocean Club Residences, a 154-unit, 650-foot luxury condominium tower in Miami. In 2017, the company got a $259 million construction loan for the property.
In 2017, the company announced plans for the expansion of Turnberry Isle Miami, including a re-branding into a JW Marriott property.

Fontainebleau Miami Beach

In 2005, the company bought the Fontainebleau Miami Beach hotel for $325 million from Stephen Muss and launched a $150 million renovation plan.
In 2007, the company sold a 50% stake in the hotel to Dubai's Nakheel Leisure for $375 million after the company faced a cash shortfall.
In October 2008, the company reopened the Fontainebleau Miami Beach hotel after its renovation, with a ceremony featuring Mariah Carey.
In 2013, the company bought back the 50% stake that was previously sold to Nakheel Leisure.

Properties