Turnberry Associates

What Turnberry Associates does

Turnberry Associates is a privately held, family-controlled real estate development and management firm headquartered in Aventura, Florida, founded by Donald M. Soffer in the late 1960s on 785 acres of swampland north of Miami that he ultimately transformed into the City of Aventura. Following the founder's passing in July 2025, the company continues under Chairman and CEO Jackie Soffer, with President and CFO Aly-khan Merali directing capital markets and development activities for a portfolio on which Merali has led transactions exceeding $10 billion. The firm operates across four integrated verticals — hospitality, retail, residential, and mixed-use — with a $10 billion real estate portfolio spanning South Florida, Nashville, Miami Beach, Orlando, Delray Beach, and Destin.

The hospitality division encompasses flagship assets including the JW Marriott Nashville (533 rooms, ranked #2 meeting hotel in North America by Cvent), the Seagate Hotel & Spa (157 rooms, recently joined Marriott Bonvoy's Autograph Collection after a $55 million transformation), and the under-development Grand Hyatt Miami Beach (800 rooms, joint venture with Terra Group). The retail portfolio is anchored by Aventura Mall, a 2.8 million-square-foot luxury shopping destination with over 300 stores (including Louis Vuitton, Hermès, Gucci, Dior, Cartier, Prada, and first-in-Florida Eataly) attracting 30 million+ annual visitors, supplemented by Destin Commons, Town Center Aventura, and the newly acquired Abbey at Aventura. Residential operations include luxury for-sale condominiums (ONE Park Tower with 292 residences at SoLé Mia, 60% pre-sold), rental communities (The Shoreline with 397 units, Villa Laguna with 188, Villa Solé with 187), senior living (Belmont Village Aventura with 153 residences), and single-family homes (Estates by Turnberry with 151 houses from $1.6 million). The flagship mixed-use development is SoLé Mia, a 184-acre $4 billion master-planned community co-developed with LeFrak, featuring a 7-acre Crystal Lagoon, UHealth medical center, Mater Academy charter school, and lifestyle amenities.

Turnberry generates revenue through multiple recurring and transactional streams: retail tenant leases, hotel operations under Marriott and Hyatt franchise agreements, residential rental income, condominium and home sales, and commercial office leasing (160,000 square feet of Class A office at Destin Commons). The company finances development through construction loans from institutional lenders including Bank OZK ($172 million for ONE Park Tower) and Tyko Capital ($392 million for Grand Hyatt Miami Beach), while pursuing strategic capital partnerships such as the December 2025 $131 million acquisition with Simon Property Group of the open-air Abbey at Aventura retail area adjacent to the flagship mall.

Name

Turnberry Associates

Legal name

Turnberry

Website

https://turnberry.com

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Turnberry Associates is a privately held, family-controlled real estate development and management firm founded in the late 1960s. It develops, owns, and operates a $10 billion diversified portfolio spanning hospitality, retail, residential, and mixed-use assets across South Florida, Nashville, and other U.S. markets.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Hotels (except Casino Hotels) and Motels (72111), Traveler Accommodation (7211), Accommodation (721), Residential Property Managers (531311), Lessors of Residential Buildings and Dwellings (531110), Other Traveler Accommodation (72119)

SIC

Real Estate Dealers (For Their Own Account) (6532), Hotels & Motels (7011), Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Luxury Villas & Residences Resorts (THAGACAM)

akta.pro secondary industries

Resort-Area Full-Service Hotels (Non–All-Inclusive) (THAGAAAD), Resort & Branded Residence Vacation Rental Management (BPAJAIAE), Ultra-Luxury Villas & Estates (THAMAEAA), Luxury Villa Resorts & Branded Villa Communities (THAMAEAI)

Keywords

• Real estate development
• Luxury hospitality management
• Retail shopping centers
• Mixed-use communities
• Commercial property leasing

Headquarters

HQ city

Aventura

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Retail Operations: Turnberry owns and operates retail properties including Aventura Mall (2.8 million square feet), Town Center Aventura, The Abbey at Aventura, and Destin Commons. Revenue is generated through tenant leases with luxury boutiques, department stores, and dining establishments.
2. Hospitality Operations: Turnberry develops and manages hotels including JW Marriott Nashville (533 rooms), Grand Hyatt Miami Beach (800 rooms), Residence Inn Aventura, Courtyard properties, Hampton Inn, and The Seagate. Revenue comes from room rentals, food and beverage operations, and events.
3. Residential Sales and Leasing: Turnberry develops and sells/leases residential properties including luxury condominiums (ONE Park Tower with 292 residences), rental apartments (The Shoreline with 397 units, Villa Laguna with 188 units, Villa Sole with 187 units), single-family homes (Estates by Turnberry with 151 houses), and senior living (Belmont Village Aventura with 153 residences).
4. Commercial Leasing: Destin Commons integrates 160,000 square feet of Class A office space above retail offerings, generating rental income from commercial tenants.

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Turnberry Associates is a vertically integrated real estate developer, builder, and manager that owns, develops, and operates luxury hospitality properties (JW Marriott Nashville, St. Regis Nashville, Grand Hyatt Miami Beach, The Seagate, Residence Inn, Courtyard, Hampton Inn), retail shopping centers (Aventura Mall, Destin Commons, Town Center Aventura, The Abbey at Aventura), residential developments (luxury condominiums, rental apartments, single-family homes, senior living), and the 184-acre master-planned SoLé Mia community in North Miami. Revenue is generated through tenant leases, hotel room rentals and food and beverage operations, residential condominium and home sales, rental income, and management of owned assets.

Product overview

Turnberry Associates is a South Florida real estate development firm with a diversified $10 billion portfolio spanning hospitality, retail, residential, and mixed-use sectors across the United States from South Florida to Nashville and the Bahamas. The hospitality division operates and develops branded hotels including JW Marriott Nashville, St. Regis Nashville, Grand Hyatt Miami Beach, The Seagate, and multiple Marriott properties (Residence Inn, Courtyard, Hampton Inn). Dining concepts include Bourbon Steak, Bourbon Sky Rooftop Bar, 888 Japanese vinyl bar, Cumberland Bar, Stompin' Grounds, and Ladurée. The retail portfolio centers on Aventura Mall (voted Best Mall in the US twice), Destin Commons, Town Center Aventura, and The Abbey at Aventura. Residential offerings include luxury condominiums (ONE Park Tower, Residences at St. Regis Nashville), rental communities (The Shoreline at SoLé Mia, Villa Laguna, Villa Solé), senior living (Belmont Village Aventura), single-family homes (Estates by Turnberry), and master-planned communities (SoLé Mia with 184 acres of residential, retail, and amenities). The portfolio includes 3,650,000 square feet of operating retail, $2+ billion in hospitality projects, and 1,705 units in the residential portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• JW Marriott Nashville 533-room, 33-story luxury hotel in downtown Nashville featuring Bourbon Steak by Michael Mina, Bourbon Sky Rooftop Bar, full-service spa, 77,000 square feet of event space including a 15,000-square-foot Grand Ballroom, and 17,000-square-foot event lawn. Ranked #2 Meeting Hotel in North America by Cvent. Target guests are business and leisure travelers and meeting/event organizers.
• St. Regis Nashville Hotel and Residences Luxury hotel and residential development at 805 Demonbreun Street in Nashville featuring 179 hotel guest rooms and 182 residences across 46 floors. Designed by Morris Adjmi with interiors by Yabu Pushelberg, operated by Turnberry under the St. Regis flag. Target customers are luxury travelers and residential buyers.
• Grand Hyatt Miami Beach 800-key, 17-story luxury hotel under development in partnership with Terra Group as central anchor of the Miami Beach Convention Center District. Features meeting spaces, resort-style pool deck, and a skybridge connection to the convention center. Target customers are convention attendees, business and leisure travelers.
• The Seagate Hotel, Golf & Beach Club Delray Beach luxury property comprising The Seagate Hotel & Spa with 157 guest rooms, full-service spa, fitness center, three outdoor pools, The Seagate Beach Club, Country Club, and Yacht Club. Target customers are leisure travelers, golfers, beach club members, and yacht club members.
• Residence Inn by Marriott Miami Aventura Mall 191-key all-suites hotel with fully equipped kitchens, complimentary breakfast buffet, Wi-Fi, and 5,000 square feet of flexible event space. Recipient of the 2021 Tripadvisor Travelers' Choice award. Pet-friendly property adjacent to Aventura Mall. Target customers are extended-stay business and family travelers.
• Courtyard by Marriott Orlando Downtown 200-key hotel in downtown Orlando with private outdoor balconies, plush bedding, complimentary Wi-Fi, outdoor pool, and 2,000 square feet of meeting space. 2021 Tripadvisor Travelers' Choice award winner. Target customers are business and leisure travelers visiting downtown Orlando.
• Hampton Inn Hallandale Beach Aventura 151-room hotel in Hallandale Beach between Miami and Fort Lauderdale. Offers complimentary hot breakfast buffet, high-speed internet, parking, outdoor heated pool, fitness center, executive meeting facilities, and on-site Steak 'n Shake restaurant. Target customers are value-oriented business and leisure travelers.
• Courtyard by Marriott Aventura Mall 166-room hotel steps from Aventura Mall and Town Center Aventura with The Bistro restaurant serving breakfast, lunch, dinner and Starbucks coffee. Winner of the 2021 Tripadvisor Travelers' Choice award. Target customers are business and leisure travelers visiting the Aventura market.
• Aventura Mall 2.8 million square foot luxury shopping center with over 300 stores including Eataly and 50 dining options. Voted Best Mall in the United States by USA Today 10Best Readers' Choice Awards for two consecutive years. Features Foster + Partners-designed Apple Store, Treats Food Hall, and the Arts Aventura Mall collection including the 93-foot Aventura Slide Tower. Target customers are luxury retail tenants and individual shoppers.
• Destin Commons Premier open-air lifestyle center in Northwest Florida with 80 stores and restaurants including Bass Pro Shops, Belk, H&M, Sephora, and AMC's 14-screen theatre. Features 160,000 square feet of Class A office space above retail. Target customers are retail tenants, commercial tenants, and shoppers in the Northwest Florida market.

Quantifiable outcome

• Aventura Mall named Best Mall in the United States by USA Today 10Best Readers' Choice Awards for second consecutive year (2025 and 2026)
• +4 more outcomes

Named customers15 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature2 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Belmont Village Senior LivingcoreStrategic or Co-development Partner · 3 March 2026Turnberry collaborated with Belmont Village Senior Living to open Belmont Village Aventura, an 11-story senior living community with 153 luxury residences in Aventura, Florida. This is Belmont Village's third location in South Florida featuring independent living, assisted living, and memory care services.
• Simon Property GroupcoreStrategic or Co-development Partner · 1 December 2025Simon Property Group partnered with Turnberry for the $131 million acquisition of 219,000 square feet of open-air retail area adjacent to Aventura Mall. Simon Property Group is one of the largest real estate investment trusts globally and co-owns/runs major malls including Aventura Mall.
• CC HomesminorStrategic or Co-development Partner · 9 June 2025CC Homes and Turnberry partnered to build 151 houses in Davie, Florida at The Estates by Turnberry. CC Homes is described as one of the nation's top luxury single-family homebuilders, and together with Turnberry they bring local expertise and global vision.
• Terra GroupcoreStrategic or Co-development Partner · 11 April 2025Terra Group and Turnberry formed a joint venture for the Grand Hyatt Miami Beach, an 800-room, 17-story property adjacent to the Miami Beach Convention Center. Terra Group, led by David Martin, is one of South Florida's premier real estate development groups.
• Reserve (Wayne Boich)minorStrategic or Co-development Partner · 19 July 2023Reserve, the leading lifestyle padel brand established by entrepreneur Wayne Boich, collaborated with SoLe Mia to open Reserve Padel Club at the community.
• Balfour BeattyminorImplementation/ SI/ Consulting Partner · 18 January 2023Balfour Beatty was selected as the general contractor for the Grand Hyatt Miami Beach Convention Center Hotel project by Terra and Turnberry joint venture.
• LeFrakcoreStrategic or Co-development PartnerTurnberry and LeFrak jointly developed the 184-acre SoLe Mia master-planned community in North Miami. LeFrak, a major real estate development firm, partnered with Turnberry for this $4 billion mixed-use project featuring residential towers, commercial centers, and Crystal Lagoon amenities.
• Marriott InternationalcoreChannel Partner/ Reseller/ DistributorTurnberry develops and operates multiple hotels under Marriott brands including JW Marriott, Residence Inn, Courtyard by Marriott, Hampton Inn, and The Seagate joining Marriott Bonvoy's Autograph Collection. Marriott provides franchise agreements and brand standards.
• ArquitectonicacoreTechnology or IntegrationAward-winning architecture firm Arquitectonica designed ONE Park Tower, the 33-story luxury condominium tower at SoLe Mia.

Scale indicators12 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Terra Group: South Florida luxury real estate developer co-developing the Grand Hyatt Miami Beach with Turnberry. Comparable because of identical Miami geography, luxury condo and mixed-use focus, and joint-venture partnership on a marquee hospitality asset.
• Simon Property Group: National retail REIT and largest U.S. mall operator, Turnberry's joint-venture partner in the $131M acquisition of The Abbey at Aventura. Comparable because of overlapping ownership of/relationship with Aventura Mall and complementary retail real estate portfolios and capital.
• The Related Group: Miami-based real estate developer with parallel South Florida footprint developing luxury condominium towers, mixed-use communities, and branded residences. Comparable because both firms target Florida luxury residential, hospitality, and mixed-use at similar scale and tier.
• LeFrak: New York real estate developer partnering with Turnberry on the $4B SoLé Mia 184-acre master-planned community in North Miami. Comparable because of joint-venture master-planning, large mixed-use scale, and multigenerational family ownership structure.
• The Witkoff Group: Florida- and New York-focused luxury real estate developer with hospitality and branded-residence projects (e.g., The Wynwood Pump House, Delano South Beach). Comparable for Florida luxury, mixed-use, and branded-residence development overlap.

Broad incumbents

• Brookfield Properties: Major global real estate developer-operator with retail, hospitality, and mixed-use assets (e.g., Ala Moana, Manhattan complexes). Comparable because of scaled mixed-asset real estate across retail, hospitality, and office with similar capital-markets sophistication.
• Genting Group: Global hospitality, resort, and integrated destination developer (Resorts World). Comparable for development of master-planned, hospitality-anchored destinations with resort, residential, retail, and entertainment components — Turnberry's SoLé Mia / Aventura model at smaller geographic scale.
• The Related Companies: Nationally diversified real estate developer-operator with mixed-use, affordable, and luxury portfolios (Hudson Yards, etc.). Comparable because of broad multi-sector real estate development at scale, including hospitality-adjacent mixed-use projects.
• MGM Resorts International: Global hospitality and resort developer-operator with luxury hotel, branded residence, and integrated destination properties. Comparable for branded-residence/hospitality integration, luxury hotel operations, and destination resort development model that overlaps with Turnberry's hospitality division.

Emerging players

• Crescent Heights: National luxury condominium developer with significant Miami and Florida exposure (e.g., Paramount Miami Worldcenter, Missoni Baia). Comparable because of similar luxury condominium core product, Florida concentration, and branded-residence partnerships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/turnberry

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Turnberry Associates