WESTON, Fla.--(BUSINESS WIRE)--Florida Community Bank (FCB) announced it provided a $67.5 million credit facility to refinance Rybovich, owned by Rybovich Boat Company, LLC, which is a 69-slip, premier mega yacht marina and state-of-the-art repair facility in West Palm Beach with the largest lift capacity of any marina in South Florida.
Rybovich Boat Company, LLC is controlled by Huizenga Holdings, Inc. The credit facility consists of a $65 million term loan used to refinance the property’s existing debt and a $2.5 million line of credit.
Situated on nearly 32 acres at 4200 North Flagler Drive on West Palm Beach’s active Intracoastal Waterway, Rybovich is the premier marine facility in the heart of South Florida welcoming some of the largest yachts in the world. The marina’s prime location provides easy and direct access to the Atlantic Ocean and the marina’s depth can accommodate deep-draft mega yachts with capacity of up to 330 linear feet. Rybovich features 60 wet slips with 9,000 linear feet of dockage, nine dry-dock spaces and a comprehensive range of amenities.
“As a Florida-based, Florida-focused bank, we are extremely proud of the opportunity to work with Huizenga Holdings and Holliday Fenoglio Fowler, L.P. to provide comprehensive financing for one of the leading enterprises within the marine industry,” said Kent Ellert, FCB’s President and CEO. “FCB’s customized approach to financial solutions is designed to help businesses grow, and we’re confident that Rybovich, with its world-class facilities and team, will continue to be a role model for entrepreneurship and supporting the communities it serves.”
About Huizenga Holdings, Inc.
Huizenga Holdings, Inc. (HHI), is a diversified company that manages the Huizenga Family’s diversified investment portfolio. HHI was founded by Wayne Huizenga, Sr., and Wayne Huizenga, Jr. has served as President since 2002. HHI was the launching pad for five NYSE companies, including Blockbuster Entertainment Corporation; Republic Services, Inc.; AutoNation, Inc.; Boca Resorts, Inc.; and Extended Stay America, Inc. HHI was also instrumental in Huizenga’s ownership of three major sports franchises (a first in sports history): MLB’s Florida Marlins, NHL’s Florida Panthers and NFL’s Miami Dolphins. HHI also managed and controlled four major sports venues (Dolphin Stadium, Broward Arena/BB&T Center, Miami Arena and Homestead Motor Speedway), a cable sports TV channel (Sports Channel) and Rybovich Boat Company, LLC.
