IGY Marinas Complete $25 Million Renovation in St. Petersburg, Florida

Posted by on Oct 17, 2018

The $25 million renovation at Maximo Marina in St. Petersburg, Florida has been completed after redevelopment and renovations by IGY Marinas. On behalf of the owner, Bixby Bridge Capital, IGY Marinas oversaw the project including all aspects of design, redevelopment and operations since 2015.

Maximo Marina is the largest covered boat slip marina in Florida, containing covered wet slips for vessels up to 100 feet in length. Maximo Marina now features a variety of world-class amenities including floating concrete docks, a state of the art fuel dock, boat lifts, complimentary WiFi, renovated support facilities, and the opening of the new Getaway Maximo Restaurant, the largest restaurant opening in south St. Petersburg in over a decade.

“This was a complex project from a design, permitting and execution standpoint. The marina was over 50 years old and IGY took great care to ensure that this marina was redesigned to be responsive to the market and the evolving sizes of vessels both for today and for the next 50 years. IGY worked with us to ensure that all the critical customer touchpoints were addressed and that the uniqueness of the marina was maintained, all while making sound cost-benefit recommendations. IGY was able to institute a phasing plan that allowed a portion of the marina to stay open throughout construction which was very important to our customers. We are very pleased that IGY and ORION were able to deliver this project on time and under budget,” said Steven Fass, a principal at Bixby.

With the complete renovation, Maximo Marina can welcome over 200 vessels in wet slips, where 142 are covered and 58 have lifts. The marina can also accommodate an additional 88 vessels with inside storage racks, and 200 in outside dry storage racks.

IGY Marinas continues to be well-known in the industry as a leading marina operator, redeveloping and operating marinas around the world.

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Resource Apartment REIT III, Inc. Purchases The Park at Kensington, Growing Their Portfolio to Tampa

Posted by on Oct 1, 2018

Resource Apartment REIT III, Inc. has purchased The Park at Kensington, an apartment community located in the prospering and growing market of Tampa, Florida. The 204-unit community features resort-style living with a multi-level pool, newly renovated clubhouse, lakeside BBQ area, and tennis court.

The prime location of The Park at Kensington offers residents access to restaurants, retailers, banks, and over 47 million square feet of office space. Being within 15-minutes of downtown Tampa, the property is surrounded by popular entertainment destinations such as Bass Pro Shops, Dave & Buster’s and Topgolf.

In 2017, the Tampa/ St. Petersburg Metropolitan Area saw an increase in opportunities for young professionals with the addition of over 35,000 jobs. The REIT strives to purchase quality apartments in high-demand areas, with surrounding amenities that renters are looking for. The Park at Kensington, with its suburban location, is in an area experiencing fast growth in infrastructure and employment opportunities.

The REIT is sponsored by Resource Real Estate, LLC, a subsidiary of C-III Capital Partners LLC. C-III Capital is a fully integrated asset management and commercial real estate services company led by Andrew Farkas.

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Yacht Haven 360 Building to Transform to a Premier USVI Attraction

Posted by on Sep 26, 2018

IGY Marinas has announced that the landmark 360 building at Yacht Haven Grande has been leased to a private group including Kiran Akal, former creative consultant for Walt Disney and Warner Music writer and artist, as well as Dave Goodman, former vice president of Walt Disney Company, and Anheuser Busch Theme Park executive.

The group plans to transform the 360 building into a premier facility that is unique along the Caribbean cruise line route. The themed attraction will include elements from the rich history and culture of the US Virgin Islands, as well as some of the sought after natural resources of the area.

The project also has the support of the U.S.V.I. Department of Tourism, the Florida-Caribbean Cruise Association and IGY Marinas, founded by Andrew Farkas. The new attraction will not only contribute to the local economy, but will provide jobs in the hospitality, retail and technical sectors, and further diversify the area’s tourism offering.

The group looks forward to collaborating with essential government agencies as they make this project a highly visible symbol in the future of the region, supporting IGY’s fourteen-year commitment to economic development of the USVI.

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