BankUnited lends $136 million for two Broward projects

Miami /
Jul.July 20, 2015 05:15 PM

BankUnited recently signed off on two loans for properties in Broward County, totaling $136 million in financing.

The first was $96 million in funding that helped the Carlyle Group acquire a $145 million marina in Fort Lauderdale.

The Lauderdale Marine Center, a 51-acre service center and boatyard at 2001 Southwest 20th Street, is described as the country’s largest yacht repair facility. Carlyle picked up the 14-building portfolio earlier this month, and is planning a series of renovations and expansions — including more space for mega-yachts.

BankUnited had also given the previous owners $60 million in refinancing for the marina two years before the sale, according to a news release.

Next up recently is a $40 million mortgage to the owners of a Dania casino, who are planning a major redevelopment.

The ownership is a company titled Dania Entertainment Center, which paid $65.5 million for the 235,148-square-foot building in 2013. The company is run by a mix of local businessmen and South American investors, according to a Sun Sentinel article about the sale.

DEC announced plans to redevelop the existing facility, at 301 East Dania Beach Boulevard, including more than doubling the amount of slot machines — from 550 to 1,400 — plus building a hotel and marina. — Sean Stewart-Muniz


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