Florida Community Bank announced in January that it has provided a $65 million loan to refinance existing debt at Rybovich, the 69-slip megayacht marina and repair facility in West Palm Beach. The bank also provided the yard with a $2.5 million line of credit.
“As a Florida-based, Florida-focused bank, we are extremely proud of the opportunity to work with Huizenga Holdings and Holliday Fenoglio Fowler to provide comprehensive financing for one of the leading enterprises within the marine industry,” said Kent Ellert, FCB’s president and CEO.
Rybovich Boat Company is controlled by Huizenga Holdings. Located on the Intracoastal Waterway, the marina offers direct access to the Atlantic Ocean and can accommodate deep-draft yachts up to 330 feet.