The Dania Beach headquarters campus that once served as the nerve center of now-defunct Spirit Airlines has been sold to a Boston hedge fund that served as the stalking horse bidder in a bankruptcy court auction.
The purchase price: $93.25 million, according to a filing in U.S. Bankruptcy Court in New York.
An affiliate DPC Holdco LLC set up by the Boston-based Hill City Capital hedge fund became the “stalking horse bidder” last month for the 8.3-acre campus, which Spirit had occupied since the spring of 2024. It submitted an initial offer of $88 million.
The location at 1731 Radiant Drive includes four buildings offering office space, a parking garage, a flight crew training facility, and housing for visiting employees.
Another bidder, REM Acquisitions LLC, was named the alternate buyer despite a higher offer of $97 million. But according to the court filing posted late Wednesday, the bid “would have resulted in lower net proceeds to the Debtors’ estates after taking into account the amount that would have been payable to the Stalking Horse Bidder and certain other associated expenses.”
A hearing on the sale is scheduled for Tuesday in U.S. Bankruptcy Court for the Southern District of New York, the filing said.
The sale was orchestrated by Eastdil Secured LLC of Miami, a prominent commercial real estate investment firm which has a track record of selling $2.7 trillion in properties. In a court filing, the firm reported that Royal Caribbean, the Miami-based cruise line operator, as well as Broward County and an individual named Gerry Glass had expressed interest in the Dania Beach property.
But the county withdrew from consideration over zoning issues. Royal Caribbean did not immediately respond to questions about its reported interest. Glass could not be reached for comment.
Spirit, which had not earned a net profit since before the COVID-19 pandemic, filed for Chapter 11 bankruptcy protection from creditors for the second time in less than year in August 2025, and permanently ceased operations on May 2 amid a spike in fuel costs driven by the U.S.-Israeli war with Iran.
Management laid off 17,000 people systemwide — including close to 5,000 employees in South and Central Florida. The company abruptly ended all of its flights in the U.S., Caribbean and Latin America after failing to secure a $500 million loan bailout from the U.S. government.
Extended wind-down
Spirit, which was once the busiest airline in terms of passengers carried to and from Fort Lauderdale-Hollywood International Airport, proceeded to wind down its business through the sale of assets including the headquarters campus, dozens of aircraft, various airport usage rights and a wide array of other property.
On Tuesday, Spirit reported that former rival JetBlue Airways, which has emerged as the largest operator at Fort Lauderdale-Hollywood International, acquired flight simulator equipment in Orlando from the bankruptcy estate for $2.7 million. JetBlue was the only bidder, according to a court filing.
In July, JetBlue won the bidding for Spirit’s landing and takeoff rights at New York’s LaGuardia Airport.