Updated Oct 28, 2024
Fireside Investments, D1 Capital Partners, And Makena Capital Management Provide $645M Loan For Marina In Palm Beach Gardens, Fort Lauderdale, Tampa & Tierra Verde, FL
Palm Beach Gardens, FL, USA
$645,000,000
Building Size
—
Asset Type
Single Family Residence
Closing
Aug 27, 2021
About this deal
AI
A loan in the amount of $645,000,000 has been secured for a marina in Palm Beach Gardens, Fort Lauderdale, Tampa, and Tierra Verde, Florida. The lenders involved in the transaction are Fireside Investments represented by Jon Langer, D1 Capital Partners represented by Dan Sundheim, and Makena Capital Management. The landlord of the marina is PORT 32 Marinas LLC represented by Joe H. Miller IV. The brokers involved in the deal are Dustin Stolly, Jordan Roeschlaub, and Chris Kramer of ewmark.
Summary of transaction details
- Property Type: Marina
- Transaction Amount: $645,000,000
- Date: 08/2021
- Market: Palm Beach Gardens, Fort Lauderdale, Tampa, and Tierra Verde, Florida
This transaction involved several key individuals and companies. Jordan Roeschlaub, Dan Sundheim, Jon Langer, and Dustin Stolly were instrumental in securing the loan for the marina. They were joined by Chris Kramer as representatives of ewmark. Fireside Investments, D1 Capital Partners, and Makena Capital Management provided the necessary funding. Joe H. Miller IV represented PORT 32 Marinas LLC as the landlord of the property.
Players
Palm Beach Gardens Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93