Morningstar completes fifth marina acquisition

CHARLOTTE, N.C. – Morningstar Marinas, a division of Morningstar Properties, LLC, has acquired Kings Point Marina in Cornelius, N.C., the largest marina in the state, according to a statement from the company.

Kings Point Marina joins The Peninsula Yacht Club and Morningstar Marinas at Skipper’s Landing as the third marina on Lake Norman and fifth overall in Morningstar’s marina portfolio.

“We are pleased to announce Kings Point Marina as the newest member of the Morningstar marina family,” said Dave Benson, president of Morningstar. “This is a big move for us. With this acquisition we have reached a scale on Lake Norman and across our portfolio that will truly allow us to improve our members and customers recreational experience. Recreational time is valuable, and we want them to be able to spend their boating time using their boats, not in endless preparation and maintenance.”

With over 700 wet and dry berths, the more than twenty-five acre Kings Point property is a full service marina that will offer a full shipstore, a bath and shower house, an on-site repair and maintenance facility, a boat rental fleet, and fuel and pump-out service. With the Kings Point addition, Morningstar will have close to 1,600 rentable wet and dry storage berths on Lake Norman.

“For over 18 years, Kings Point has been one of leaders on Lake Norman for service and marina facilities,” Benson continued. “We look to build on this legacy and plan to expand our services and to upgrade property features and amenities in the coming months.”

Morningstar Properties is a diversified real estate operator, developer and general contractor that has developed, built, and operated a portfolio of self-storage facilities for the past 25 years. In addition to the three marina properties on Lake Norman, Morningstar owns and operates the Reserve Harbor Yacht Club in Pawleys Island, S.C. and Bahia Bleu in Savannah, GA.

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