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 $25M in Revolving Credit Facility for Epum Holdings

Jayden Lapin-Tatman • 11/22/2022

Epum-marina-2-webcardNew York, NY – Cushman & Wakefield announced today that the real estate services firm served as the exclusive advisor to Epum Holdings (“Epum”) in the structuring of a senior secured revolving credit facility with initial loan proceeds of $25 million and the ability to increase to $50 million over time. Epum currently owns five marinas, and the facility is meant to help Epum continue to grow their marina portfolio in the eastern United States.

Cushman & Wakefield’s Steve Michels, Jared Kelso and Lauren Greenberg represented the borrower in the transaction.

“Epum’s portfolio, consisting of high margin and high cash flow properties, provided lenders with compelling debt yields, strong equity backing and substantial debt service coverage that collectively create a strong margin of safety,” said Michels.

This credit facility closing occurred simultaneously with Epum’s acquisition of one of the largest marinas on the east coast, Spicer’s Marina in Groton, Connecticut. Spicer’s Marina has nearly 450 wet slips, a service center, a restaurant and multiple other best in class amenities.

Royden Cooper with Epum Holdings stated, “Along with our recent acquisition of the nearby Noank Shipyard, the acquisition of Spicer’s Marina will help Epum achieve greater operational efficiencies and in turn serve both our customers and the local community with a higher standard of quality. The team at Cushman & Wakefield and our other partners were essential for both these acquisitions and the structuring of our new credit facility which will allow us to continue to grow once we stabilize these new properties.”

Photos of the assets can be downloaded here.

About Epum Holdings
Epum Holdings is a private company that develops and invests into products and properties within the commercial real estate industry. 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 real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

Interested in learning more?

Get in touch and we can assist with any additional information you need.

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