Lemonjuice Capital Holdings Completes Financing for New Smyrna Resorts to Buyout Their Management Contracts

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The Boards of Ocean Beach Club and SuniSands in New Smyrna Beach sought to terminate their legacy management agreement and procure a more cost-effective management service with a shorter commitment and greater Association control.

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We can now be owner-centered and provide a caring environment that meets our owners’ needs. We want them to feel special for their vacations. Our goal is to be “best on the beach” and ensure that owners realize the value of their property.

The Boards of Ocean Beach Club and SuniSands in New Smyrna Beach sought to terminate their legacy management agreement and procure a more cost-effective management service with a shorter commitment and greater Association control.

They turned to Lemonjuice Capital Holdings, LLC for funding to buy out the legacy management contracts. In addition, an affiliate of Lemonjuice Capital bought out all of the management company’s voting in the resorts.

When SuniSands and Ocean Beach Club were developed in 1980’s, the developer retained the management contracts. These contracts were drafted by the developer for the developer – giving most of the choices and control to the management rather than to the Board and the owners. Those contracts were later resold multiple times and it became clear that the owners were being shortchanged. The Associations wanted to have new management arrangements where the Board and owners were in control of more decisions.

Alexander Krakovsky, CEO of Lemonjuice Capital Holdings, said, “The Associations will now be in the position to significantly lower their operating costs and increase rental revenue by restructuring their obligations under the management contract.

Sonya Cole, President of Ocean Beach Club and Vice President of Sunisands said, “We can now be owner-centered and provide a caring environment that meets our owners’ needs. We want them to feel special for their vacations. Our goal is to be “best on the beach” and ensure that owners realize the value of their property.”

Alexander Krakovsky formed Lemonjuice Capital Holdings (http://www.Lemonjuice.biz) to invest in assets that are impaired by badly structured legal regimes, such as legacy timeshares. Lemonjuice works with the Boards and owners to reposition and restructure these assets for higher and better uses.

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Alexander Krakovsky
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