Windward Marina Group has closed on the acquisition of three marinas in the Northeast Florida market with $42,000,000 in mortgage loan financings arranged by Thomas D. Wood and Company. Thomas D. Wood Jr. secured financing in the amount of $11,000,000 for the acquisition of St. Augustine Shipyard. The Shipyard is located at 117 Dockside Drive in St. Augustine, Florida with significant frontage along the San Sebastian River. It is a Category 4, dry storage barn and marina with 22 acres of developable land. The marina can accommodate up to 297 vessels and there are plans are to expand the wet slips and develop the 22 acres with single and multi-family housing units. Financing was provided by CenterState Bank. Wood also secured the refinancing for St. Augustine Marine Center in the amount of $12,000,000. St. Augustine Marine Center is a full-service marine center and boat storage yard located at 404 Riberia Street in St Augustine, Florida. The property is situated on a 28.64-acre site with 97,508 SF of office and warehouse space, with 2,200 linear feet of dockage and excess land to store boats. The financing was also provided by CenterState Bank.
The third acquisition Wood secured financing in the amount of $19,000,000 for the acquisition of Beach Marine, located at 2315 Beach Boulevard, Jacksonville Beach, Florida. The marina is comprised of a 257-space dry storage barn, 239 wet slips, and 34,538 SF of commercial space on over 130 acres of land. The Jacksonville Marina financing was provided by a New York Investment Bank.