BAHIA MAR LATEST PROPERTY TO BE BOUGHT AND UPGRADED
This is a familiar story by now isn't it? An older, well located property gets bought and the new owner plans to renovate and expand and or upgrade the property. It is happening all over the state, from every product type from theme parks to retail centers and yes marinas. That is the case here with the famed Bahia Mar Marina, the hub of Ft. Lauderdale Beach. It has been badly in need of a renovation and now it will finally happen. The new owners, the Tate brothers (Jimmy & Kenny) and Sergio Rock , along with Rialto Capital Management and RCI Marine have been steadily adding to their portfolio lately and following the same script. The Tates and Rok and have totaled 18 investments with a value of more than $600 million in the past 5 years alone. This site is irreplaceable, 39 acres, across from a public beach, has a 250 slip marina and 297 room hotel. It is also the location of the Ft. Lauderdale International Boat Show, which as we know from previous blogs is a huge economic driver for the entire region. So while already good, this site is about to get amazing with the addition of a condo hotel, and retail, restaurants and offices all facing the water. It will be a park like setting with people being able to walk, and enjoy time by the water. This should be an absolute home run if done right and I can't wait to see it when it is complete. It is very exciting to see important parts of the area getting improved and renovated. It also provides badly needed jobs and enhances our already excellent standing as a tourist destination. As always thanks for reading and have a great day.
Bahia Mar sold, may be upgraded with more dining and shopping
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