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Updated May 27, 2025

Palm Tree Crew Invests In Mary Lou’s Cocktail Lounge With Mama Hospitality Collaboration
SOLD

Palm Tree Crew Invests In Mary Lou’s Cocktail Lounge With Mama Hospitality Collaboration

,

Building Size

—

Asset Type

—

Closing

May 27, 2025

About this deal

AI

Palm Tree Crew, co-founded by music artist Kygo and his manager Myles Shear, has made a strategic investment in Mary Lou’s, a cocktail lounge and entertainment hub. This transaction involves the formation of a new holding company with Mary Lou’s founding team, Mama Hospitality, to expand the brand and launch new concepts.

Summary of transaction details:

  • Deal Type: Investment
  • Transaction Amount: Not disclosed
  • Companies Involved: Palm Tree Crew, Mary Lou’s
  • Founders: Kygo, Myles Shear, Mama Hospitality
  • Headquarters: Palm Beach

Palm Tree Crew is expanding its presence in the experiential hospitality sector, which complements its initiatives including music festivals and venues located in Miami, Orlando, and Las Vegas. CEO Michael Diaz highlighted the alignment of values and vision between the Palm Tree Crew and Mary Lou's teams.

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Players

Michael Diaz

Buyer

$4.1B

vol

37 deals

Buyer

Market CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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