{"id":1004100431,"date":"2014-07-11T11:02:07","date_gmt":"2014-07-11T19:02:07","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=275641"},"modified":"2022-12-06T03:57:35","modified_gmt":"2022-12-06T11:57:35","slug":"westrec-marinas-gets-10m-loan-for-haulover-marine-center-development","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/westrec-marinas-gets-10m-loan-for-haulover-marine-center-development\/","title":{"rendered":"Westrec Marinas Gets $10M Loan for Haulover Marine Center Development"},"content":{"rendered":"<p><em>By Balazs Szekely, Associate Editor<\/em><\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/2014-07-09-Westrec-Marinas-Gets-10M-Loan-for-Haulover-Marine-Center-Development.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-275648\" title=\"Haulover Marine Center\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/2014-07-09-Westrec-Marinas-Gets-10M-Loan-for-Haulover-Marine-Center-Development.jpg\" alt=\"\" width=\"300\" height=\"155\" \/><\/a>Site work on a 508-rack marina storage has kicked off as developer Westrec Marinas acquired the necessary funds through Florida Community Bank. Holliday Fenoglio Fowler arranged the $10 million five-year, floating-rate construction loan on behalf of the borrower. The HFF team speaking for Westrec was led by managing director James Dockerty and senior real estate analyst Scott Wadler.<\/p>\n<p>Founded in 1987, Westrec is a private owner-operator of marinas and marine-related businesses, providing management services to its properties, affiliates and clients throughout the world. The company manages marina facilities located both in fresh and salt-water environments, handling vessels ranging in size from personal watercrafts to large yachts.<\/p>\n<p>The development is located on the Intercoastal Waterway north of Bal Harbour, in the 180-acre Haulover Park at 15000 Collins Avenue. Located across the street from Haulover Beach, the property is the closest marina to the Bakers-Haulover Inlet. Its 9-hole golf course, bicycle and kite rental opportunities, along with the picnic areas located on both the Atlantic and Intracoastal sides of the property, make it a suitable destination for the non-boating public as well. The enclosed dry storage facility will replace a an existing dry stack marina containing 260 open-rack dry storage units, a 3,200-square-foot building that includes a retail store and restaurant and a 16,000-square-foot boat repair unit.<\/p>\n<p>The construction is due for completion in early 2016.<\/p>\n<p><em>Photo credits: Westrec Marinas<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Site work on a 508-rack marina storage has kicked off as developer Westrec Marinas acquired the necessary funds through Florida Community Bank. Holliday Fenoglio Fowler arranged the $10 million five-year, floating-rate construction loan on behalf of the borrower. The HFF team speaking for Westrec was led by managing director James Dockerty and senior real estate analyst Scott Wadler.<\/p>\n","protected":false},"author":755,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1492,21742],"tags":[1815],"class_list":["post-1004100431","post","type-post","status-publish","format-standard","hentry","category-miami","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Westrec Marinas Gets $10M Loan for Haulover Marine Center Development - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/westrec-marinas-gets-10m-loan-for-haulover-marine-center-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Westrec Marinas Gets $10M Loan for Haulover Marine Center Development\" \/>\n<meta property=\"og:description\" content=\"Site work on a 508-rack marina storage has kicked off as developer Westrec Marinas acquired the necessary funds through Florida Community Bank. 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