RobertDouglas represented, as exclusive advisor, TPI Hospitality on the refinancing of the Margaritaville Beach Resort Fort Myers Beach, a 254-room resort on beachfront land in Fort Myers Beach, FL.
The financing, provided by an institutional-grade balance sheet lender, repaid construction financing, returned equity to TPI and includes an earnout structure for future proceeds based on performance. Trailing net operating income increased meaningfully from marketing through closing, underscoring the lender’s conviction in the asset’s ramp-up potential and the creative, forward-thinking approach taken by all parties involved, according to the company.
Fully opened in April 2024, that expansive resort features 254 guestrooms, five food & beverage outlets and the 60,000-sq.-ft. Fins Up! Beach Club.
Located on Estero Island, the resort is close to Times Square, Crescent Beach Park and the Fort Myers Beach Pier, and is at the center of a market undergoing more than $150 million in public infrastructure investment, including a $100-million Times Square revitalization, $40-million beach replenishment and $17-million pier reconstruction.
“This financing represents a strong endorsement of the asset, the brand, and the sponsor,” said Evan Hurd, principal/managing director, RobertDouglas. “TPI has delivered a truly irreplaceable, institutional-quality resort on one of Florida’s most coveted beachfronts, backed by a category-defining brand in Margaritaville. The lender recognized the long-term value in both the real estate and the operating platform, and we’re proud to have helped structure a transaction that positions all parties for continued success.”
Chris Flagg, chief investment officer, TPI Hospitality, added, “This refinancing marks a major milestone that positions the asset well to continue achieving strong growth and reach its full potential. RobertDouglas has been a true strategic partner throughout the process. Their deep understanding of both capital markets and hospitality operations helped us unlock significant value from a flagship asset that represents years of vision, investment and execution by our team.”
