WARD CAPITAL MANAGEMENT ENGAGES CFL PARTNERS IN REDEVELOPMENT INITIATIVES AT OYSTER BAY
ORLANDO, FL Feb 4, 2018 – CFL Partners, Inc. (“CFL”) and WARD Capital Management, LLC. (“WARD”) jointly announced today the engagement of CFL as its exclusive Transaction Agent pertaining to a redevelopment project located directly across the street from Stehli Beach which is on the North Shore of Long Island Sound in the picturesque village of Oyster Bay. The redevelopment, with spectacular water views, is on the site of the historic Tides Motor Inn (the “Tides”) on Bayville Avenue. WARD is currently under contract to acquire Tides from current ownership. Terms of the agreement have not been disclosed.
WARD, whose core strengths are real estate investment and development of multi-family residential, retail, and hotel assets, is in the design stages of a multi-million-dollar renovation and refurbishment plan. Tides will be transformed into an upscale yet quaint full-service all-suites boutique hotel, with an array of guest amenities commensurate with hotels in its class. “Weather it’s for destination weddings, special events or a quick escape to the beach, Bayville has always been in extremely high demand,” said D’Wayne Prieto, Managing Partner and CEO of WARD. “We are pleased to have CFL Partners’ hospitality-centric transactional expertise to assist us in developing and delivering an upscale hospitality product along with identifying the right operating partner who can execute on exceeding our guest’s expectations”.
About WARD Capital Management, LLC:
Founded in 2006, Ward Capital Management is a full-service real estate firm providing a broad range of principle investment, development, advisory and investment banking services. WARD bridges the gap between Main Street and Wall Street, specializing in challenging projects and extracting value from unique investments for their joint-venture partnerships. http://www.wardcm.com
About CFL Partners, Inc.:
CFL Partners provides expert consulting, advisory, and merger & acquisition (“M&A”) services to private and publically held, mid-sized companies. Specializing in the Hospitality, Vacation Ownership and Resort industry, CFL Partners assists clients with leveraging their core assets and unlocking shareholder value through Strategic Partnerships/Alliances, Equity/Capital raises, Asset-light development opportunities and properly positioning companies for exploring other strategic alternatives or various liquidity options. With over 75 years of unmatched depth and industry-specific experience, CFL Partners and its Advisors are well prepared to help clients achieve their goals. http://www.cflpartners.com