CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Cushman & Wakefield Arranges $50M Programmatic Joint Venture Equity for Epum Holdings

Jayden Lapin-Tatman • 5/23/2022
New York, NY – Cushman & Wakefield announced today that the real estate services firm served as the exclusive advisor to Epum Holdings in the procurement of $50,000,000 in programmatic joint venture equity for the Epum Marina Partners Fund, a platform targeting marina acquisition and development opportunities across the Northeast, Great Lakes and the Mid-Atlantic.

A Cushman & Wakefield Equity, Debt & Structured Finance team of Steve Michels, Jared Kelso, Dan O’Brien and Lauren Greenberg represented Epum Holdings.

“The marina industry presents significant, lucrative investment opportunities that drive high returns,” said Michels. “Given the attractive market dynamics and robust acquisition pipeline Epum has procured, we were able to attract significant institutional equity interest in what has historically been a niche real estate asset class.”

The sponsor’s expansion, targeting value-add marina properties across the Northeast, Great Lakes and the Mid-Atlantic, is fueled by a joint venture partnership with an institutional private investment management firm.

“After reviewing REIT-eligible product types that exist outside of traditional real estate asset classes with the potential to provide outsized returns, we identified the marina business as an opportunistic space in 2020” said Spencer Stieff, a Partner at Epum Holdings. “Epum will deploy this capital to target marinas with more than 100 slips in high-rate markets with legacy boating cultures and EBITDA optimization opportunities.”

The Epum marina platform currently consists of four owned properties, with four properties under contract and over 15 additional properties in the pipeline, throughout their target regions.

The industry has experienced exponential growth in demand from both consumers and institutional capital providers, a trend which has accelerated since the onset of the pandemic. In 2020, boat sales achieved a thirteen-year high, representing a 12% increase year-over-year. Following the record year of 2020, new powerboat sales exceeded 300,000 units in 2021 for only the second time in 15 years.

About Epum Holdings
Epum Holdings is a private investment and development platform that employs over 100 years of combined commercial real estate and construction expertise. The Epum Holdings team has collectively acquired more than 5 million square feet of real estate and has a proven track record with institutional capital sources. For more information, please visit www.epumholdings.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.

CAN'T FIND WHAT YOU'RE LOOKING FOR?

Get in touch with one of our professionals.

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on  Cookies

More Options
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS