South Seas acquires 22-acre Captiva waterfront site

South Seas acquired a 22-acre beachfront-to-bay property on Captiva Island formerly owned by the Robert Rauschenberg Foundation, expanding its footprint next to the resort. The site along Laika Lane and Captiva Drive near Captiva Village,includes 10 buildings, including the late 20th-century American artist’s original Beach House and studio, and spans waterfront along the Gulf and Pine Island Sound. The foundation cited rising maintenance costs and environmental risks for the sale, which drew criticism from some community members who sought to preserve the property. South Seas said it plans to incorporate several buildings and honor Rauschenberg’s legacy through art-related programming as it evaluates redevelopment options tied to its broader resort expansion. Terms of the deal were not disclosed.