Morningstar continues along acquisition path
PAWLEYS ISLAND, S.C. – Morningstar Marina Management, a division of Morningstar Properties, has acquired its second marina – Reserve Harbor Marina and Club in Pawleys Island, S.C. – from The Litchfield Co., according to an article today in the Charlotte Business Journal.
The division, launched two years ago, intends to continue to buy and build marinas along the East Coast, Morningstar President Dave Benson told the publication.
“The Reserve is a strategic fit in our coastal expansion plan where we are looking to acquire additional marina operations from Maryland to Florida,” he said.
The marina facility currently includes a 220-boat dry stack, 50 wet slips, a clubhouse with food and beverage service and a swimming pool, but the new ownership plans to expand its offerings, reported the journal.
The marina’s new parent company owns and operates self-storage facilities. The first marina purchased by the division was the Peninsula Yacht Club on Lake Norman.
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