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Fireside Investments, D1 Capital Partners, And Makena Capital Management Provide $645M Loan For Marina In Palm Beach Gardens, Fort Lauderdale, Tampa & Tierra Verde, FL

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FINANCED
$645,000,000
Dustin Stolly
Christopher (Chris) Kramer
+ 2

Florida

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Single Family Residence
Financed 08/27/2021
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FINANCED

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

See Similar Deals
Single Family Residence
Financed 08/27/2021
Dustin Stolly
Christopher (Chris) Kramer
+ 2
Contact now

Summary

FLORIDA
Asset Type:Single Family Residence
Transaction Type:Loan

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

Chad Carroll
84 deals$1.7B volume(305) 400-9507
BROKER

Dustin Stolly
Walker & Dunlop
264 deals$49.1B volume
BROKER

Christopher (Chris) Kramer
Newmark
112 deals$21.8B volume(212) 850-5472
BROKER

Matthew Dugow
Compass
31 deals$947.5M volume(305) 494-0033
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$96.2B volume
BROKER

Fireside Investments
LENDER

Details

FINANCED
IMAGE: Jordan Roeschlaub, Dan Sundheim, Jon Langer & Dustin Stolly DATE: 08/2021 MARKET: Palm Beach Gardens, Fort Lauderdale, Tampa & Tierra Verde, Florida ASSET TYPE: Marina LENDER: Fireside Investments - Jon Langer, D1 Capital Partners - Dan Sundheim & Makena Capital Management LANDLORD: PORT 32 Marinas LLC - Joe H. Miller IV BROKERS: Dustin Stolly, Jordan Roeschlaub & Chris Kramer - @Newmark LOAN AMOUNT: $645,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$645,000,000.00

Monthly NOI$4,300,000.00
Monthly Debt Service$4,076,838.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00