SVN Marinas Advises On The Sale Of Emerald Coast Marine Center To Safe Harbor Marinas

SVN Marinas is pleased to announce it has advised the owners of Emerald Coast Marine Group on the sale of the marina, located in Niceville, FL to Safe Harbor Marinas, a wholly owned subsidiary of publicly listed Sun Communities, Inc. (NYSE: SUI). 

Advising the deal for the seller were David Kendall and Mike Howell, the founding partners of SVN Marinas, a leading marine advisory practice specializing in M&A and business advisory services for marine properties and marine businesses throughout the United States and the Caribbean.

“We congratulate the owners and management team on the sale of this best-in-class marine facility,” said Kendall. “While the price is not disclosed, Emerald Coast Marine Center is one of the largest and most diversified marina complexes in the Florida Panhandle. The leadership team at Emerald Coast had the vision to transform the property from a regional marina into a highly profitable, world class marina complex, which meets the demands and satisfies the recreational boating needs of their customers.”

The Emerald Coast Marine Center is a destination life-style marina on the majestic Emerald Coast of Northwest Florida.  The concept of a marine center provides for a turnkey approach to boat ownership, recreation, storage, and maintenance.  The marina includes a hurricane-rated indoor storage facility accommodating up to 280 boats and 70 wet slips together with a leading regional boat dealership carrying premium brands that include; Beneteau, Blackfin, Crownline, Crest, Crevalle, Hurricane, Key West, Monterey, Nautique, Release, Sea Pro, and Solace.

“David and Mike were instrumental in helping achieve the successful outcome of this transaction,” said Shawn Talpey, President of Emerald Coast. “Together, they are uniquely capable to advise on both marina and marine business transactions that require both market specialization and the sophistication to negotiate complex M&A type marine business transactions.”  

“David and I launched SVN Marinas to provide the transaction expertise required to successfully advise larger and more involved marina and marine transactions requiring both commercial real estate and business expertise,” said Howell.

About SVN & SVN Marinas

SVN is the only national commercial real estate firm with a dedicated marina and marine specialty practice.  SVN Marinas was strategically formed by the merger of U.S. Marina Brokers and Safe Haven Advisors.  Headquartered in Florida and Massachusetts, SVN Marinas is able to transact marinas and marine property anywhere in the United States and Caribbean.  SVN is a leading national commercial real estate firm with more than 200 offices and 1,600 advisors.  For more information on SVN Marinas visit www.svnmarinas.com

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Lippincott Marina Acquired

Chesapeake Whalertowne, a dealership with locations in Grasonville and Annapolis, Md., announced in a statement its acquisition of Lippincott Marine.

The full-service marina is located at Kent Narrows in Grasonville and has 200 slips that can accommodate boats to 70 feet.

A Boston Whaler and Mercury dealer, Chesapeake Whalertowne said the Lippincott acquisition will diversify its revenue streams and increase its presence in the Chesapeake.

“The acquisition of Lippincott Marine is the logical next step in growing our business and supporting our customer base, which represents one of the strongest here on the Chesapeake Bay,” Whalertowne general manager Rick Boulay Jr. said in a statement.

Chesapeake Whalertowne is planning capital improvements and will rename the facility Cedar Point Marina.

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Southern Marinas Acquires Tennessee Property

Southern Marinas Holdings announced in a statement that it has acquired Grand Harbor Condominiums and Marina on Pickwick Lake in Tennessee.

The property is on the Tennessee-Mississippi border, less than a mile from the Alabama state line. Located at the junction of the Tennessee River and the Tombigbee Waterway, the marina attracts boaters cruising the Great Loop.

“Grand Harbor is a unique asset that attracts boaters and vacationers from a broad demographic area,” Gary Rosmarin, principal with Southern Marinas, said in a statement. “By the addition of Grand Harbor, our portfolio now extends its geographic footprint from the Northwest, through the Midwest, into the Southeast.”

The full-service marina includes covered slips, condo rentals, a rental fleet, a ship’s store, fuel dock, a lakeside pool, tennis courts and a fitness center and spa.

Grand Harbor is Southern Marinas’ sixth acquisition this year.

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