Dallas firm pays over $50 million for five marinas in Palm Beach County

Dallas-based Suntex Marina Investors paid more than $50 million to acquire five Loggerhead-branded marinas in Palm Beach County from Jupiter-based Seven King Holdings. Altogether, Seven King sold 11 of its 12 Loggerhead marinas in Florida to Suntex, retaining only its marina in Stuart.

Suntex bought two marinas in Lantana and one each in Riviera Beach, Palm Beach Gardens and the Jupiter area. The Dallas-based company paid Seven King $25.8 million for its marina in Riviera Beach, $12.8 million for one of its two marinas in Lantana, $9.95 million for its marina near Jupiter, and $8.3 million for its Frenchman’s Marina Resort in Palm Beach Gardens. No deed has been recorded yet for the sale of Seven King’s  marina at the Moorings community in south Lantana. [Palm Beach Post] — Mike Seemuth