News and announcements
May 15, 2019
SOUTHERN MARINAS ACQUIRES RIVERWATCH MARINA
Growing Marina Portfolio Adds Stuart, Florida Location
North Palm Beach, Fla. – Southern Marinas Holdings, LLC, a partnership between a New York-based investment firm and Southern Marinas, announced today the purchase of Riverwatch Marina in Stuart, Florida.
Conveniently located in the heart of Martin County, Riverwatch Marina is perfectly positioned to provide storage and marina services to the cities of Hobe Sound, Palm City, Jensen Beach, and Stuart. The full-service marina features 368 dry and wet slips, a comprehensive marine service department, a fuel dock, a boat brokerage, and a boat club. For more than 15 years, Riverwatch has been owned and operated by a private investor in Stuart, Florida. During that time, the marina has enhanced its reputation, and has become a fixture within Stuart’s active boating community.
“We are fortunate to acquire such a wonderful asset in a great boating market,” said Andrew Gendron, principal and chief investment officer with Southern Marinas. “Riverwatch Marina is the perfect addition to our growing portfolio of marinas that will extend our footprint into the Florida market.”
Over the past six months, Southern Marinas has developed a strong pipeline of assets and, in 2019 and beyond, will be acquiring a select number of best-in-class marinas in the Southeast and other strategically located geographic regions of the country.