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efta-01461036DOJ Data Set 10Other

EFTA01461036

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DOJ Data Set 10
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efta-01461036
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EFTA Disclosure
Text extracted via OCR from the original document. May contain errors from the scanning process.
CONFIDENTIAL INVESTMENT OPPORTUNITY INVESTMENT Suntex Ventures LLC (-Suntex" or the "Sponsor) is forming a new company (Suntex NewCo") for the purpose of acquiring and managing institutional quality marinas. The Sponsor intends to create an investment vehicle that will aggregate high quality marinas with the goal of listing in the public markets as an internally managed pure play REIT in a three year timeframe. An investment in Suntex NewCo is intended to provide investors with highly predictable and durable current income with the potential for significant capital growth. OFFERING SUMMARY Format: Reg D Use of proceeds: To acquire, own and operate institutional quality marinas in top locations in the U.S. Offering size. $200 - S300mm of equity Target leverage: 50 - 55% Sponsor. Suntex Ventures, LLC. Target current yield: 8% LEADING MARINA INDUSTRY SPONSOR CEO Johnny Powers. Scott McMullin. Bryan Redmond and the Suntex team have been operating marinas since 1995. Today, Suntex is one of the largest and most reputable marina companies in the United States. The Company owns and/or operates 22 institutional-quality marinas across the U.S. Headquartered in Dallas, TX, Suntex employs 24 people at its home office and nearly 400 people on site at the marinas. The Company has a national geographic footprint and operating infrastructure which provide it with vast market knowledge, invaluable industry relationships, and access to investment opportunities in the most desirable marina markets. PROVEN TRACK RECORD Suntex's principals and management team have over 100 years of aggregate experience managing and investing in marinas. As a result of the Sponsors focus on acquiring high quality assets with strong cash flow generation. Suntex has consistently been able to provide investors with attractive returns. Suntex's realized investments have produced an average IRR of 35.8% and a 4.32x multiple on equity. Suntex's investors draw from high net worth, private equity. hedge funds. and, most notably, its own principals and employees. ACTIONABLE PIPELINE Suntex NewCo will take advantage of fragmentation in the marina industry to acquire marquis assets at highly attractive initial yields The Company is currently underwriting a pipeline exceeding S1.5 billion of current opportunities, with S200 million of marinas currently in the acquisition and closing process. Marinas are an attractive asset class to real estate investors characterized by strong free cash flow, attractive initial yields and significant upside potential CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0 122840 SDNY_GM_00269024 EFTA01461036

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