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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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Sonnenblick Goldman Arranges $17 Million Debt and
Equity Acquisition Financing for a Key West, Fla. Marina
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Thursday, June 21, 2007
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New York, NY
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Sonnenblick Goldman, acting on behalf of a Tampa, Fla.-based marina operator and developer, arranged approximately $13 million of debt and $4 million of equity for the acquisition of Conch Harbor, a luxury marina that can accommodate 100-foot-long-plus yachts along the Historic Harbor Walk in the Old City of Key West, Fla. Both debt and equity were provided by Southbridge Investments of Boca Raton, Fla.
The new owner, a joint venture between the developer and an affiliate of Southbridge Investments, will continue to operate the marina as well as a restaurant, parking garage and several thousand square feet of boutique retail located on the site.
“This is a great waterfront site in one of the most desirable parts of the southeastern U.S.,” said Dave Karson, the director at Sonnenblick Goldman who arranged the transaction. “The site will ultimately be developed to accommodate 12 or 14 luxury townhomes that will allow buyers to sail or motor right to their doorstep.”
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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