News and announcements

February 23, 2021

SOUTHERN MARINAS SELLS EXISTING PORTFOLIO AND ANNOUNCES SEARCH FOR NEW ACQUISITIONS

Industry Metrics Reach a High-Water Mark and Point Toward Continued Growth in This Sector
Fish-Tale Marina
Fish-Tale Marina in Fort Myers Beach, Florida, was one of the Southern Marinas locations sold.

North Palm Beach, Fla. – Southern Marinas Holdings, LLC, a partnership between a New York-based private investment firm and Southern Marinas, announced today the sale of its portfolio of best-in-class marinas to a publicly traded REIT. “With the uncertainty surrounding the long-term investment strategy in some traditional core real estate, including retail and office, the marina space has become increasingly interesting for private equity and public REITS looking to diversify their portfolios. In addition, the boating industry metrics are the strongest they have been in the past decade, and this trend is expected to continue in 2021 and beyond,” said Andrew Gendron, chief investment officer with Southern Marinas.

Southern Marinas’ management is now focused on replicating its previous success with a follow-on platform to acquire premier marina properties across the country. “While we have a robust pipeline of potential acquisitions, we are always looking to find unique properties that will complement our new portfolio,” said Gendron.

The principals of Southern Marinas have been involved in the acquisition and management of marinas and resort properties throughout the United States for more than 20 years. Through their combined years in the marina space, the team has evaluated 100+ marinas for purchase through an extensive underwriting process. The Southern Marinas team’s experience and operational expertise extends to coastal marinas on both seaboards and everything in between – from New Jersey to Florida in the East; California in the West; and mountain and lake marinas in Kentucky, Tennessee, Arkansas, and Texas; and throughout the Great Lakes.

For more information on Southern Marinas, LLC, please contact info@southernmarinas.com or visit www.southernmarinas.com.

Jim Behun’s experience spans more than 30 years in the Southern California boating industry. He served on the board of directors of the Marine Recreation Association and as past president of the San Diego Dockmasters Association, and is an active member of the San Diego Port Tenants Association and an affiliate member of the California Yacht Brokers Association. Immediately prior to joining the Southern Marinas team, Jim served as the general manager of Sunroad Resort Marina & Yacht Center in San Diego, a facility with over 600 slips, leased commercial space, and three well-known restaurants. During his 13-year tenure as the marina’s chief operating officer, Jim developed and produced the renowned San Diego Boat Show, which grew from a small, local gathering of boat dealers to a major, annual event attracting more than 100 dealers, brokers, and vendors, and 13,000+ boating enthusiasts.

Jim, a native of Annapolis, Maryland, has logged many hours sailing and boating on both coasts, including boat deliveries and charters to various coastal areas. In the early ’90s, he was the general manager of the 444-slip San Diego Marriott Marina. From there, Jim moved to a position with the National Marine Manufacturers Association to manage boat shows on both coasts and in Canada. He also developed and produced the first Mexico National Boat Show in Puerto Vallarta. Jim is a firm believer in managing facilities to ensure boating is safe and enjoyable for all!