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Cushman & Wakefield Arranges $50M in Programmatic Joint Venture Equity for Epum Holdings

Cushman & Wakefield (NYSE: CWK) announced that the real estate services firm served as the exclusive advisor to Epum Holdings in the procurement of $50 million in programmatic joint venture equity for the Epum Marina Partners Fund, a platform targeting marina acquisition and development opportunities across the Northeast, Great Lakes and the Mid-Atlantic.

A Cushman & Wakefield Capital Markets team of Steve Michels, Jared Kelso, Dan O’Brien and Lauren Greenberg represented Epum Holdings.

“The marina industry presents significant investment opportunities that can drive high returns,” said Michels. “Given the attractive market dynamics and robust acquisition pipeline Epum has procured, we were able to attract significant institutional equity interest in what has historically been a niche real estate asset class.”

The sponsor’s expansion, targeting value-add marina properties across the Northeast, Great Lakes and the Mid-Atlantic, is fueled by a joint venture partnership with an institutional private investment management firm.

“After reviewing REIT-eligible product types that exist outside of traditional real estate asset classes, we identified the marina business as an opportunistic space in 2020,” said Spencer Stieff, a Partner at Epum Holdings. “Epum will deploy this capital to target marinas with more than 100 slips in high-rate markets with legacy boating cultures and EBITDA optimization opportunities.”

About Epum Holdings

Epum Holdings is a private investment and development platform that employs over 100 years of combined commercial real estate and construction expertise. The Epum Holdings team has collectively acquired more than 5 million square feet of real estate and has a proven track record with institutional capital sources. For more information, please visit

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit or follow @CushWake on Twitter.

Cushman & Wakefield Arranges $50M in Programmatic Joint Venture Equity for Epum Holdings


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