News and announcements
July 13, 2020
SOUTHERN MARINAS ACQUIRES BAY POINT RESORT AND MARINA
Growing Marina Portfolio Adds Marblehead, Ohio Location
North Palm Beach, Fla. – Southern Marinas Holdings, LLC, a partnership between a New York-based private investment firm and Southern Marinas, announced today the purchase of Bay Point Resort and Marina in Marblehead, Ohio, on July 8, 2020. This acquisition brings the growing Southern Marinas’ portfolio total to 11 properties.
Bay Point Resort and Marina is an iconic, 227-acre recreational paradise with direct access to Lake Erie and Sandusky Bay. For more than 75 years, Bay Point has provided best-in-class amenities and services, attracting members from all the major cities in Ohio, as well as the neighboring states of Pennsylvania, Indiana, Illinois, and Michigan. The Resort offers summer and winter boat storage, including 660 wet slips and 145 Jet Ski docks, 175 scenic RV sites, a beach club with a casual lakeside grill, a resort pool, a well-provisioned ship’s store, and a 9-hole executive golf course. The Marina was recently honored by being designated Ohio’s first, platinum-certified clean marina.
Since 2006, Bay Point has been owned by Bay Point Acquisition, LLC, a group led by real estate developer John T. Murphy, who had the collective vision to dramatically transform this property into one of the finest residential beachfront marinas and resorts on Lake Erie. Over the past 14 years, the resort has truly become a one-of-a-kind community whose heart and soul are the families that have chosen Bay Point as their home for summer recreation. “Since our expertise and primary focus was developing the project, we have been looking to transition the recreational and operational components of the project to a group whose principal focus is both marina and resort operations. We have found such a group in Southern Marinas,” said Charlie Papy, Manager, Bay Point Acquisiton, LLC.
“We are very fortunate that Charlie Papy and his partners have selected Southern Marinas to be the new stewards of Bay Point,” said Gary Rosmarin, Principal with Southern Marinas. “Bay Point Resort and Marina is the perfect addition to our growing portfolio of properties that will expand our footprint into the Great Lakes market.”
While the timing of the acquisition comes as people are practicing social distancing, outdoor recreation and boating continues to provide a fun and safe alternative to get outside in a healthy setting with family and friends. This purchase will mark Southern Marinas’ fifth acquisition in 2020, as the company continues to build a strong portfolio of best-in-class recreation destinations strategically located across the country.