Aventura-based ESJ Capital Partners has closed on the purchase of Jungle Island, an 18 acre landmark attraction located on Watson Island in Miami. As part of the $60 million transaction the buyer gets the transfer of the existing lease on the City of Miami-owned Watson Island to ESJ, along with assuming existing park debt to the City of Miami, Miami-Dade County and the U.S. Department of Housing and Urban Development. The buyer plans to undertake an extensive renovation and expansion, as well as opening a private beach club. The phased multi-million dollar renovation, expected to take two years to complete, will focus on upgrading the park’s offerings and further re-focus Jungle Island as an eco-adventure destination. Jungle Island, previously Parrot Jungle, was founded in 1936 in the Miami-Dade County suburb of Pinecrest. The facility was moved and opened as Jungle Island in 2003 on Watson Island along the MacArthur Causeway.
“We are extremely pleased to have the opportunity to invest in Jungle Island, which has been an important part of the South Florida community for 80 years,” said Arnaud Sitbon, President and Co-Founder of ESJ Capital Partners. “As a world-class destination, we believe that Jungle Island is uniquely positioned for continued reinvention, innovation and growth, and look forward to successfully achieving these objectives.”
