The Real Deal Miami

BankUnited lends $136 million for two Broward projects

Funds went to a $145M marina and a Dania casino
Lauderdale Marine Center

Lauderdale Marine Center

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.

The building at 301 East Dania Beach Boulevard, which is headed for redevelopment

The building at 301 East Dania Beach Boulevard, which is headed for redevelopment

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