Monday, September 26, 2016

Carlyle Group Goes Big in Fort Lauderdale

The Carlyle Group can store your yacht and provide an oceanfront room in Fort Lauderdale.  It's planning both a new hotel and expanding yacht slip/storage space.

The Real Deal reported:

The Carlyle Group is expanding and upgrading the Lauderdale Marine Center, a 50-acre property on the south bank of the New River near downtown Fort Lauderdale.

Carlyle acquired the marine center in 2015 and subsequently obtained a $136 million mortgage loan secured by the property from Miami Lakes-based BankUnited.
Carlyle once owned BankUnited, courtesy of a sweetheart deal from FDIC Chief Sheila Bair.

South Florida Business Journal reported on Carlyle's new hotel plans in Fort Lauderdale.

The same group that owns the B Ocean Resort in Fort Lauderdale wants to build another hotel on the site.

CRP/InSite Clipper LLC, a joint venture between Weston-based InSite Group and Washington-based private equity firm the Carlyle Group, will take its plan before the city’s Development Review Committee on Sept. 27. It calls for a 12-story, 224-room hotel at 1137 Seabreeze Boulevard/A1A.
Now word yet if BankUnited will finance the deal.  

Yacht owners can get their luxury vessel serviced and crash in extraordinary accommodations under the OneCarlyle banner.  It's a PEU world.