The owner of the Longboat Key Club is in talks to sell a financial stake in the tony resort that could jump-start its long-delayed $400 million redevelopment.
Loeb Partners Realty is discussing a joint venture with Ocean Properties Ltd., a major hotel owner and operator whose holdings include three local properties, including the Lido Beach Resort.
Loeb, which has owned the 400-acre resort since 1990, has been looking for a financial partner since a sweeping redevelopment and expansion plan was approved more than two years ago.