Suntex Marinas Selected To Redevelop Las Olas Marina

Fort Lauderdale Property to Undergo Significant Renovation

Dallas, TX /PRNewswire/ - Suntex Marina Investors LLC (Suntex), the premier owner and operator of best-in-class marina properties, announced today that it has been selected as the winning bidder by the City of Fort Lauderdaleto redevelop the Las Olas Marina. In addition to the redevelopment, a 50-year lease to operate the property has been approved. This will be a multi-million-dollar project and is part of a $70 million redevelopment by the City to create waterfront and beach access, a park, new parking facilities and renovate existing sidewalks.

The project is a joint venture between Suntex Marinas and Edgewater Resources, LLC a marina design, engineering and development firm. This collaboration brings the most sophisticated and qualified team to build, construct and operate Las Olas Marina. Suntex Marinas is one of the largest and most respected marina operators and financial teams in the country, while Edgewater Resources has designed in excess of 300 marinas around the world and prides itself on designing both economically and environmentally sustainable properties.

"We would like to leverage our investment to create the greatest possible benefit for as many people in the community as we can," said David Filler, principal of Suntex. "This means recognizing that this marina must serve more than just the owners of mega yachts. We must do our part to add jobs to the community, benefit the environment and build on the remarkable success Fort Lauderdale has already achieved in creating an inviting, walkable and vibrant waterfront community."

While still early in the design phase, the marina facilities will incorporate strategies to achieve Florida Clean Marina Program designation and sustainability will be a key consideration throughout the design process. In addition, current preliminary plans call for a new promenade and food and beverage concepts to help bring more public access and enjoyment to the waterfront marina.

"We are truly excited to be working with Suntex on this game-changing project that will transform our marina and surrounding waterfront into a premier destination for boating, recreation and entertainment," said Fort LauderdaleMayor John P. "Jack" Seiler. "As home to the world's largest boat show, we recognize that a thriving marine industry is essential to our long-term economic success, prosperity and sustainability, and we remain committed to making the necessary investments to preserve, support and enhance this powerful market sector. We appreciate the experience and expertise Suntex brings to the table, and we look forward to fulfilling our shared vision of creating a unique waterfront environment that can be enjoyed by our neighbors and visitors for generations to come."

The Suntex portfolio of 45 marinas are located in California, Florida, Georgia, Iowa, Kentucky, Maryland, Massachusetts, New Jersey, North Carolina, Oklahoma, Texas, Tennessee and Virginia. For more information on Suntex Marina Investors LLC, or the complete portfolio of Suntex marinas, please contact info@suntex.com or visit www.suntex.com.

About Suntex Marina Investors, LLC
Suntex Marinas engages in the ownership and management of marina properties. The executive officers at Suntex have over 100 years combined experience investing in, acquiring, and managing marinas. Suntex manages 45 marina properties in the United States, leveraging its ownership and management platforms to provide leadership within the marina sector and to acquire institutional quality marinas to enhance customer experience. Suntex prides itself on a growing reputation in the marina industry for its commitment to superior customer service, experienced marina managers and staff, conscious contributions to marina communities and expansive enthusiasm for creating memorable experiences on the water. www.suntex.com