ESJ Acquires Interactive Zoo Park for $60M
- Apr 07, 2017
ESJ Capital Partners announced it acquired Jungle Island, formally Parrot Jungle, an 18-acre interactive zoological park, for $60 million. The transaction includes transfer of the existing lease on the Watson Island, in addition to assuming existing park debt to the City of Miami, Miami-Dade County and the U.S. Department of Housing and Urban Development. ESJ also plans a three-part renovation and expansion process, expected to take up to two years, with the first phase debuting this summer.
Located at 1111 Parrot Jungle Trail, the phased multi-million dollar renovation will focus on upgrades and additions to the park’s offerings, including zip lines, water slides, opening a private beach club or upgrades to food and beverage. The company also intends to re-focus the park as an eco-adventure destination. “We are considering the development of different renewable energy facilities at the park which will enhance the guests’ active and educational experience and help us come closer to energy independence,” said Elie Mimoun, COO, in prepared statements.
John Dunlap, CEO of Iconic Attractions Group, will stay on as the park manager, responsible for its operations and day-to-day administration, and current employees will be retained and will become employees of IAG. Additionally, IAG anticipates more jobs to be created once the renovations and expansions are finalized.
The park currently offers such attractions as the Winged Wonder, a covered amphitheater with singing and talking birds, The Children’s Area, a large playground and petting farm, and Parrot Cove, Miami’s only private beach. Jungle Island also features special exhibitions, such as The Lion’s Den, the park’s largest exhibit and home to a white lion, or Jake & Hanna’s Penthouse, home of two orangutans.
Rendering courtesy of ESJ Capital Partners