A joint venture by the owners of Captiva's South Seas resort has purchased the 22-acre Rauschenberg property that spans from beach to bay on Captiva Island.
South Seas purchased the property from the artist's foundation, which served as its owner following the 2008 death of Robert Rauschenberg, the 20th-century American artist.
South Seas officials called the acquisition “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.”
The officials also said they would honor the Rauschenberg legacy through future art-related programming and by incorporating several buildings from the property into the resort.
Bob Rauschenberg established his residence and art studio on Captiva in the fall of 1970, adding to his compound over the years. He once wrote, "Captiva is the foundation of my life and my work; it is my source and reserve of my energies."
Following the artist's death in 2008, his foundation maintained the property as an artist residency, but rising costs and the repairs necessitated by a string of recent hurricanes prompted the foundation to sell the estate.
MORE INFORMATION:
South Seas traces its lineage to 1946, when the former Key lime plantation was purchased and transformed into a fishing resort under the name of South Seas Plantation. It changed ownership twice, first in 1966 when Mariner Properties purchased the site, and then again in 1998, when it was sold to MeriStar.
A consortium consisting of the Timbers Company, Wheelock Street Capital and The Ronto Group acquired the resort in 2021. Under their joint ownership, South Seas reopened in May 2025 with all new amenities, including new dining options at the Beach House restaurant and Harborside Italian steakhouse, newly renovated marinas, docks and pools, and a 2.5 acre water park called Captiva Landing that features a collection of experience zones, including food and beverage offerings tailored to every age and interest.
The resort is also planning to introduce a new luxury hotel as well as the Timbers Captiva Club & Residences at South Seas, a private residential development that South Seas maintains will honor 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,” states South Seas’ press release announcing the acquisition of the Rauschenberg estate, 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.
“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,” said South Seas president Greg Spencer.
Jonathan Paul, founding partner at Wheelock Street Capital, shared the company’s focus on investing in luxury leisure destinations such as 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,” he said.
While specific development plans have not yet been finalized for the Rauschenberg estate property, South Seas said it is exploring options that align with the reimagined resort, while honoring the legacy of Robert Rauschenberg and his visionary artistry.
Rauschenberg’s ties to Captiva
Rauschenberg is considered the most influential American artist of the last half of the 20th century. He led the transition from abstract expressionism to pop and modern art movements and pioneered the use of found and recycled material in his paintings, prints, sculpture and performance pieces.
After acquiring his initial residence and artist studio in 1970, he purchased a number of adjoining properties with the stated objective of insulating his slice of paradise from development by South Seas resort and others.
- Read here for a chronology of Rauschenberg’s additions to his artist’s compound on Captiva Island.
- Read/listen here to discover why Bob Rauschenberg felt that his move to Captiva was “written in the stars.”
About the purchasers
Prior to the Rauschenberg purchase, South Seas resort owned 330 acres on Captiva Island. Half of that acreage has been dedicated as a wildlife preserve and estuary. However, the resort has been at odds with the Sanibel-Captiva Conservation Foundation over the resort’s plans to increase building heights and replace its 247 hotel rooms and employee housing units with 707 condominium and hotel units, representing a 48 percent increase in density that SCCF argues is inconsistent with the historic character and coastal charm of the island.
South Seas’ press release announcing the purchase of the Rauschenberg estate states that:
- 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.
- For nearly 40 years, Ronto Group 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.
- 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. 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-added vehicle and open-end long-term value vehicle, respectively.
Support for WGCU’s arts & culture reporting comes from the Estate of Myra Janco Daniels, the Charles M. and Joan R. Taylor Foundation, and Naomi Bloom in loving memory of her husband, Ron Wallace.
