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Gilberts Resort and Marina, FL

The Background and Challenge

Simply Marinas had an exclusive buyer-broker arrangement with the qualified buyer who had restaurant and leisure ownership experience. We conducted a comprehensive search to find the buyer the right asset. To make the acquisition feasible, Simply Marinas created a financing deal structure that included a Small Business Administration loan in first position and favorable long-term owner financing in second. To justify the higher price range, we also demonstrated the asset’s tremendous upside. We advised the buyer on how to add value by identifying and transferring additional hotel room and slip rights via the ROGO (Rate of Growth Ordinance) program in the Keys. Our team also worked with the county to resolve and close open permits before the sale.

The Results

The owner wanted $12 million and the deal closed at $11.25 million. Since the acquisition, our clients more than doubled their income. It has become one of our favorite places to watch the sunset and have a drink at the Tiki Bar. Our client’s success reminds us of the joys of our service.

People are talking ...

“I had worked with the Simply Marinas team on an exclusive basis due to their demonstrated ability to make a difference in every facet of the transaction. They also facilitated financing by securing a loan for us in first position and a second from the seller. Their commitment and looking at our best interest were exemplary. Their in-depth knowledge of marinas and their deal making ability impressed us. They assisted beyond the basic sale. They identified available new development opportunities and ways to increase value that made the difference for us. Most of all, we have been repeat clients due
to the trust we have developed in their team.”