On April 16, 2012, Craig Stevenson of LoganView Capital LLC closed on the purchase of 100% of the Membership Interests in Kona Marine Holdings, LLC and the assumption of mortgage debt on the underlying property for total capitalization of $2,050,000.
Kona Marine Holdings, LLC owns the 7,552 square foot mixed-use building known as “The Fuel Dock at Honokohau Harbor Marina” in Kailua-Kona, Hawaii. In addition to the boat and auto fueling operation and general marina store, the property supports retail and office tenants comprised of charter fishing companies, dive shop operators, and a fishing tournament sponsor.
Simultaneously with the purchase above, LoganView arranged for the acquisition of a $100,000 participation interest in the first mortgage securing the Fuel Dock.
Craig Stevenson, Principal and CEO of LoganView Capital LLC, orchestrated both transactions with the assistance of acquisition and partnership counsel provided by the law offices of Susan Brooke Thompson. While the economy remains relatively soft on the Big Island of Hawaii, this transaction is anticipated to generate above average investment returns, particularly once the planned renovation work is completed.
LoganView Capital is a Santa Barbara, CA based specialty real estate firm focused on purchasing opportunistic commercial real estate loans and commercial properties. Craig Stevenson brings over 20 years of diversified experience in commercial real estate, including property and debt acquisitions, asset management, finance, development and operations. Stevenson has been actively involved in over $790 million of real estate and real estate related debt transactions through corporate and entrepreneurial ventures.