Planet Swim faces foreclosures lawsuit

A lender is searching for to foreclose on Planet Swim’s Ponte Vedra property, alleging the favored swim operator defaulted on tens of millions of {dollars} in loans tied to the Davis Park Road facility.

North Avenue Capital LLC filed the foreclosures lawsuit in St. Johns County Circuit Court towards Planet Swim LLC, Gustavo Calado and several other others, data present.

Calado, Planet Swim’s CEO and head coach, is called as a guarantor on the loans.

The Citizen has reached out to him for touch upon the submitting.

The criticism facilities on the outstanding Planet Swim property at 300 Davis Park Road, the place the corporate operates a busy facility recognized domestically for swim and tennis classes.

According to the lawsuit, Planet Swim borrowed $5 million in 2019 for development of the ability, equipment, tools and shutting prices.

The lender says the corporate later borrowed one other $1.285 million by a separate mortgage in 2021.

North Avenue Capital alleges that they did not repay the loans by Dec. 31, 2025, regardless of coming into right into a forbearance deal earlier that yr.

As of June 17, the lender claims the defendants owed about $5.54 million on the primary mortgage and $1.17 million on the second, not together with extra curiosity, charges and prices.

The lawsuit asks a choose to foreclose on the property, enter judgments towards Planet Swim and Calado, and appoint a receiver to take management of the advanced whereas the case proceeds.

The foreclosures submitting comes amid a interval of transition for Planet Swim, which lately separated from Sporting Jax Aquatic Club after a merger between the 2 Northeast Florida swim organizations did not unfold as deliberate.

In 2025, Planet Swim and Sporting Jax Aquatic Club introduced a merger that introduced collectively two native swim packages and included a number of high-profile names.

But the organizations later instructed households they might separate efficient April 1, 2026.

In an e mail to the groups, the teams mentioned the merger “did not unfold as we had initially envisioned” and cited, amongst different points, the “financial impact” of the merger, according to a report.

The lawsuit additionally comes shortly after Planet Swim took on a brand new public position in St. Johns County.

In April, the St. Johns County Board of County Commissioners approved a contract by a 3-2 vote making Planet Swim the brand new operator of the swimming pool on the Solomon Calhoun Community Center in St. Augustine.

Under that deal, Planet Swim was anticipated to supply swimming classes, water aerobics, free swim time and different packages on the county-owned facility.

The foreclosures case stays pending, and the allegations haven’t been confirmed in courtroom.

The Citizen will replace this story because it proceeds.