Suntex Ventures LLC is forming Suntex NewCo to acquire and manage institutional quality marinas, aiming to list as a REIT in three years. The offering targets $200-$300 million in equity with 50-55% leverage and an 8% yield. Suntex, led by CEO Johnny Powers, has a proven track record with a 35.8% IRR and 4.32x equity multiple. The company is underwriting a $1.5 billion pipeline with $200 million in acquisitions closing.
documents/vol00010-efta01461036-pdf.pdf
{"title":"Investment Opportunity in Suntex NewCo","key_people":["Johnny Powers","Scott McMullin","Bryan Redmond"],"document_type":"correspondence","key_locations":["Dallas, TX"],"document_subtype":"investment opportunity","key_organizations":["Suntex Ventures LLC","Suntex NewCo"]}