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Thomas D. Wood Jr. Secures $9.5M Acquisition Loan For Fernandina Beach Marina

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FINANCED
$9,500,000

Florida

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Other61,533 SF
Financed 08/31/2021
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FINANCED

Thomas D. Wood Jr. Secures $9.5M Acquisition Loan For Fernandina Beach Marina

251 Creekside Drive, Fernandina Beach, Florida, USA

See Similar Deals
Other61,533 SF
Financed 08/31/2021
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Summary

FLORIDA
Asset Type:Other
Price Per Square Foot:$154
Total Square Footage:61,533 SF
Transaction Type:Loan

The acquisition of Amelia Island Yacht Marina located at 251 Creekside Drive in Fernandina Beach, Florida has been financed with a loan amount of $9,500,000. The marina, secured by Thomas D Wood Jr., President of Winward Marina Group, is a mixed-use, full-service marina spread over 57 acres of developable land. It can accommodate up to 325 vessels and features a waterfront restaurant. The plans for the marina include the construction of a new service center building and dredging of the channel leading up to the marina. South State Bank provided the financing for this transaction.

Summary of transation details

  • Property Type: Marina
  • Transaction Amount: $9,500,000
  • Building SF: 61,533
  • Lot SF: 1,301,137
  • Lender: South State Bank
  • Landlord: Windward Marina Group
  • Broker: Thomas D. Wood Jr. - Thomas D. Wood and Company

Thomas D. Wood Jr., President of Winward Marina Group, was responsible for securing the financing for the acquisition.

Players

Thomas Wood Jr
Thomas Wood Jr
2 deals$34.5M volume
BROKER
South State Bank
South State Bank
LENDER
WG
Windward Marina Group
LANDLORD

Details

FINANCED
IMAGE: Thomas D. Wood Jr. DATE: 08/31/2021 ADDRESS: 251 Creekside Drive MARKET: Fernandina Beach, FL ASSET TYPE: Marina LENDER: South State Bank LANDLORD: Windward Marina Group BROKER: Thomas D. Wood Jr. (@TdWoodJr) - Thomas D. Wood and Company (@TdWoodandCo) LOAN AMOUNT: $9,500,000 LOAN TYPE: Acquisition BUILDING SF: 61,533 LOT SF: 1,301,137 NOTE: Thomas D Wood Jr., President, secured financing on behalf of Winward Marina Group in the amount of $9,500,000 for the acquisition of Amelia Island Yacht Marina. The marina is located at 251 Creekside Drive in Fernandina Beach, Florida, approximately 4.5 miles south of the inlet. It is a mixed use, full service marina with 57 acres of developable land. The marina can accommodate up to 325 vessels and offers a waterfront restaurant. Plans are to construct a new service center building and dredge the channel leading up to the marina. Financing was provided by South State Bank.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,500,000.00

Monthly NOI$63,333.33
Monthly Debt Service$60,046.46
Change in Cash Flow$0.00
Refinance Proceeds$0.00