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Suntex Ventures, LLC Acquires Marina Loan Package
From Textron Financial Corporation
Dallas group has reformed to focus on resort destination markets
including marinas, office, retail, hotels
DALLAS - Suntex Ventures, LLC, a Dallas-based real estate fund formed earlier this year to own and operate mixed-use waterfront properties, announced today that it has acquired a package of marina loans from Textron Financial Corporation, the financial services unit of Textron Inc. (NYSE: TXT).
The loan collateral includes four marinas with more than 1,650 slips and 54,000 of linear feet of dock space.
The acquisition of the loan package was made through a partnership between Suntex Waterfront Capital Partners, LP, private investors and a Dallas based lender. Suntex’
"We are a unique buyer of these loans due to our experience in the marina business and our knowledge of the underlying collateral,”
The Suntex partner’s former group of funds, Sun Resorts International, previously owned or operated 14 mixed-use resort marinas in the Caribbean and the United States including eight in Texas and two in Florida.
About Suntex Ventures
Suntex Ventures www.suntexventures.com is a real estate fund designed to own and operate mixed-use waterfront properties including marinas, office, retail, hotel, and other select assets. Based upon proprietary underwriting, experience, and historical success, they are focusing on high-end resort destinations. For more information on Suntex Ventures, contact Derek Wilson at 972-789-1400.
