SANIBEL ISLAND, Fla. - eTradeWire -- South Seas announces the successful acquisition of a 22-acre property, formerly owned by the Robert Rauschenberg Foundation, that spans from beach to bay on Captiva Island.

South Seas purchased the property from the Foundation, which served as its owner following the 2008 passing of Robert Rauschenberg, the 20^th-century American artist.

"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. We look forward to honoring the legacy of this amazing artist through future art-related programming and by incorporating several buildings from the property into our resort," said Greg Spencer, president of South Seas.

The property, 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.

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The purchase is another joint venture between Timbers Company, Wheelock Street Capital and The Ronto Group, which purchased South Seas in 2021. Under the joint ownership, the reimagined South Seas reopened in May 2025 with all new amenities including a new water adventure, Captiva Landing. Other new amenities include new dining options at the Beach House restaurant and Harborside Italian steakhouse, along with newly renovated marinas, docks, pools and more. Captiva Landing and all South Seas experiences are available to registered South Seas guests and Club Captiva owners. Additionally, a new expression of island living is on the horizon as the resort prepares to introduce a new luxury hotel as well as the Timbers Captiva Club & Residences at South Seas (https://timberscaptiva.com/), a thoughtfully designed private residential experience — one that honors 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. The unveiling is anticipated this summer at South Seas. Visit TimbersCaptiva.com for more information.

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Jonathan Paul, founding partner at Wheelock Street Capital, shared the company's focus on investing in luxury leisure destinations like 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."

While specific development plans have not yet been finalized for the recently purchased property, South Seas is exploring options that align with the reimagined resort. South Seas is also looking at ways to honor the legacy of Robert Rauschenberg and his visionary artistry as plans develop for the property.