Charleston, S.C. – Atlantic Marina Holdings, LLC (AMH), through an affiliate, has purchased PGA Marina Center in Palm Beach Gardens, Florida.
PGA is a 7.5 acre marina with approximately 395 dry slips, 1,240 linear feet of wet dockage and commercial marine sales with 14 boat lines currently sold onsite. The property is located on the Intracoastal Waterway and PGA Boulevard, with close to 39,000 cars per day at the site. AMH sought out PGA Marina due to its location in Palm Beach Gardens, one of South Florida’s premiere residential and commercial communities.
AMH will rename the facility “PGA Marina & Boating Center.” The redevelopment will create facility suited to address the needs of today’s boater. AMH intends to work with the City of Palm Beach Gardens to enhance the existing facilities, which would include replacement and expansion of existing dry slips with new and larger slips, upgrade of the common areas and fuel dock, and expansion of PGA’s commercial marine retail space and the number of boat lines carried. AMH’s goal is to optimize the location to enhance the experience of its customers and the local boating community as well.
AMH is in the business of marina acquisition, marina development or redevelopment and marina operation. AMH currently operates four marinas and has plans to add to its portfolio.
Advisory services were provided by Raymond James’ Real Estate Investment Banking group. Financing for the project was provided by American Bank of Texas.
For more information, please visit www.atlanticmarinaholdings.com.