Real Estate Acquisitions in Florida

Suntex Marina Investors LLC, in partnership with Centerbridge Partners, L.P., has acquired Two Georges Marina in Shalimar, Florida and rebranded the property as Shalimar Harbor Marina. The acquisition adds 134 wet slips and 190 dry rack storage spaces to Suntex’s network; George and Amanda Fussell will continue to operate an independent marine sales and service business on-site under the Two Georges Marine name.

StayTerra, a vacation-rental platform backed by Garnett Station Partners and Bessemer Venture Partners, announced an investment in Cape & Coast Premier Properties, a luxury vacation rental manager based in Cape San Blas, Florida. The deal brings Cape & Coast onto the StayTerra platform to accelerate growth, expand StayTerra's footprint in Florida's Gulf Coast, and provide the company with capital, technology and operational support.

BBG acquired the commercial division of Carlson Norris & Associates from KOVA Companies and will establish a new Fort Myers office to expand its Florida footprint. Industry veteran Michael P. Jonas joins BBG as a Managing Director, and the deal strengthens BBG’s capabilities in government and municipality valuation work while filling a strategic geographic gap in Southwest Florida.

Jacksonville-based FRP Holdings Inc. has acquired the development portfolio and operations of Altman Logistics Properties LLC from BBX Capital, integrating active logistics and warehouse projects across New Jersey and Florida into FRP’s platform. The deal brings several planned industrial projects (including new warehouses in Parsippany and Hamilton, NJ, and multiple Florida projects) and the Altman logistics team — led by Mark Levy, who joins FRP as CIO — into FRP's expanded East Coast industrial pipeline; financial terms were reported in some outlets (~$33–34M) but not disclosed by all parties.

Outrig acquired Fortress RV & Boat Storage and the Nar-Vista Commerce Center in Orlando, Florida, rebranding them as Outrig – Orlando and Outrig – Orlando Commerce Park. The deal expands Outrig’s national RV and boat storage footprint and introduces the company’s first small-bay industrial offering in Central Florida.

Ares Management (via a private equity fund) has made a strategic growth investment in Awayday, a U.S. vacation rental property manager, with existing sponsor LightBay Capital fully realizing Fund I and re-investing alongside Ares. Awayday operates 30 local brands and manages more than 9,000 properties; the new capital will be used to scale go-to-market efforts, accelerate acquisitions, drive organic growth, and invest in operating tools.

An all-former-Kraken control group led by Joseph Onorati and Parker White has acquired majority ownership of Janover Inc. (Nasdaq: JNVR) and installed Onorati as Chairman and CEO. The new owners plan to shift part of Janover's treasury into digital assets (starting with Solana), explore acquiring and operating Solana validators, and continue growing Janover's core SaaS business for commercial and multifamily real estate professionals.

Suntex Marina Investors, LLC has acquired Conch Harbor Marina in Key West, Florida, expanding its coastal marina portfolio and presence in the Florida Keys. The marina, which accommodates vessels up to 200 feet and offers onsite amenities and transient slips, will continue operations under Suntex's marina management platform.

Indiana-based PMI Meridian Management has acquired Sarasota-based Capstone Association Management and will rename the business PMI Capstone. The deal provides PMI Meridian with a strategic entry into the Florida market and expands its community association and property management capabilities; Danielle Leon was promoted to director of operations for Florida.

Vacatia, a technology-driven hospitality company, acquired The Berkley Group, Inc. and Daily Management, Inc., combining Vacatia’s product and rental capabilities with Berkley and Daily Management’s resort development, sales and property-management expertise. The transaction was financed in partnership with affiliates of Fairfax Financial (via Hamblin Watsa Investment Counsel Ltd.), and brings together more than 2,500 associates servicing over 460,000 owners and managing over 11,000 units across 13 states.

Second Avenue, a Tampa-based single-family rental platform, acquired Jacksonville-based Pacific Oak Residential, Inc., adding a 2,110-home portfolio valued at about $400 million. The deal expands Second Avenue's managed homes to 5,300 and raises its assets under management to $1.5 billion while extending its operating footprint to 21 states.

Doorvest, a San Francisco–based full-service real estate investing platform, has acquired Getaway, a PropTech company that helps investors find and finance investment properties. The acquisition adds Getaway's financing products and a network of more than 34,000 investor customers to Doorvest, accelerating the launch of Doorvest's lending product and creating a vertically integrated end-to-end platform for sourcing, financing, transacting, and managing rental investments.

AKAM, a New York- and Florida-based property management and brokerage firm, acquired Property Management Resources (PMR), a family-run property management business serving Palm Beach County, Florida. The acquisition expands AKAM’s footprint in Southern Florida and brings PMR’s managed properties and team into AKAM’s platform, giving those clients access to AKAM’s capital project management, energy, procurement, insurance and risk management services.

ViVO Real Estate Group, a Miami-based commercial real estate advisory and development firm, has acquired boutique brokerage JACOG Advisors led by founder Francisco Giron and announced a strategic partnership bringing Miami industrial broker Frank Trelles into the firm. The acquisition expands ViVO's capabilities into capital markets and strengthens its industrial tenant representation, sales and leasing teams to capture growth in South Florida's expanding industrial market.

FirstService Residential has acquired a majority stake in Tampa-based Rizzetta & Company, a provider of consulting and management services to community development districts (CDDs) and homeowners associations across Florida. Founder William "Bill" Rizzetta retains a significant equity stake and will continue to lead the company as FirstService Residential expands its service capabilities into special district management.

Bersh HOA, a permanent-capital platform focused on HOA/community management businesses, has acquired Marsh Landing Management Company, Inc., a boutique HOA property manager headquartered in Jacksonville Beach, Florida. The transaction transfers day-to-day leadership to Tripp and Kristy Richland while founder Steve Loveland remains available as an advisor; Bersh intends to expand service offerings and scale the platform through similar add-on acquisitions.

Hilton Grand Vacations Inc. completed the previously disclosed all-cash acquisition of Bluegreen Vacations for approximately $1.5 billion inclusive of net debt. The deal adds roughly 200,000 members, expands HGV's resort portfolio to nearly 200 properties across new geographies and states, and is expected to be adjusted free cash flow accretive with about $100 million of run-rate cost synergies within 24 months.

Public Storage agreed to acquire Simply Self Storage from Blackstone Real Estate Income Trust (BREIT) for $2.2 billion. The deal includes 127 wholly-owned properties totaling ~9 million net rentable square feet across 18 states (predominantly Sunbelt markets) and is expected to close in the third quarter of 2023.

NexPoint Storage Partners acquired 29 newly developed self-storage properties from SAFStor, bringing its wholly owned portfolio to approximately $1.7 billion in assets and 71 operating properties. As part of the deal Extra Space Storage extended and restructured its preferred equity investment in NexPoint and will manage NexPoint’s entire platform (nearly 90 properties) under the amended arrangement.

MarineMax, Inc. agreed to acquire Island Global Yachting LLC (IGY Marinas) for $480 million in cash plus a potential earnout of up to $100 million, expanding MarineMax's global marina and superyacht services footprint. The transaction, expected to close in the first half of fiscal 2023 (closed effective October 1, 2022 per follow-up release), adds 23 luxury marinas, a yacht management platform and the IGY Trident membership program while IGY's management will remain in place.

JPAR – South Florida Living (owned by Chris, Lisa and Michael Schlitz and Jeremy Constantino) acquired Signature Invest Realty LLC of Orlando on June 3, 2022, expanding JPAR’s Florida footprint. The deal brings Jose Vega and his team of sales professionals into the JPAR network to support residential brokerage growth and agent-focused technology and marketing services.

Troon, a Scottsdale-based leader in golf and club hospitality management, has acquired ICON Management Services, a Florida-based golf, tennis, amenity and community association management company founded in 2007. The acquisition expands Troon's HOA, club and community management capabilities and adds ICON's footprint across Florida (including offices in Bradenton, Fort Myers and Orlando) and its approximately 1,800 team members.

Peachtree Hotel Group acquired the 207-key AC Hotel Miami Aventura and the 233-key Aloft Miami Aventura in Aventura, Florida. Peachtree's management arm, Peachtree Hospitality Management, will operate the properties as part of the firm's ongoing opportunistic hotel portfolio expansion in the Miami market; terms were not disclosed.

BBG, a national commercial real estate valuation and assessment firm headquartered in Dallas, acquired Tampa-based appraisal firm Trigg, Catlett & Associates. The deal expands BBG's presence in Florida and the Southeast; terms were not disclosed and Trigg Catlett's staff joined BBG's Tampa office.

DaGrosa Capital Partners LLC (DCP), a Miami-based investment firm, announced a strategic growth investment in ISG World, a fully integrated real estate sales and marketing firm specializing in pre-construction condominium projects. The investment will support ISG World’s infrastructure and systems expansion to scale condominium sales in South Florida and broaden its geographic reach across the U.S. and into Central America.

Voxtur Analytics Corp. entered into an agreement to acquire all membership interests of RealWealth Technologies LLC and will rebrand the business as VoxturWealth. Consideration includes three million common shares issued at closing and two million additional shares held in escrow subject to EBITDA-based earnout targets; the deal is intended to expand Voxtur's real-estate technology platform and product capabilities.

Pebblebrook Hotel Trust acquired the 369-room Margaritaville Hollywood Beach Resort in Hollywood, Florida for $270 million from an affiliate of KSL Capital Partners, LLC. The oceanfront lifestyle resort will continue to be managed by Davidson Hospitality Group and becomes part of Pebblebrook's Curator Hotel & Resort Collection as the REIT seeks to expand its footprint in South Florida.

ONE Sotheby's International Realty has acquired National Realty of Brevard and will onboard CEO Gale S. Bray and her 76 associates into the ONE SIR network. The acquisition expands ONE Sotheby's presence across Florida's East Coast and adds residential, commercial and property-management capabilities in Brevard County.

Suntex Marina Investors, LLC acquired Prime Marina Miami (to be renamed Bayshore Landing) in Coconut Grove, Miami, purchasing the property's renewed 70-year lease from Prime Marina Group. The asset includes 111 slips (up to 130-foot vessels), 30,000 sq ft of retail and 15,000 sq ft of restaurant space (fully occupied), and Suntex plans operational and amenity improvements to enhance the waterfront experience.

BBG, a national commercial real estate due diligence firm based in Dallas, has acquired Herr Valuation Advisors (HVA), a Tampa-based real estate appraisal firm. The acquisition expands BBG's valuation and appraisal capabilities in the Tampa market and brings HVA's founder and six staff into BBG's Tampa office.