Southern Marinas Holdings, LLC, a partnership between a New York-based investment firm and Southern Marinas, announced the purchase of Riverwatch Marina in Stuart, Fla., on May 15, 2019.
Conveniently located in the heart of Martin County, Riverwatch Marina is 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, fuel dock, boat brokerage and a boat club. For more than 15 years, Riverwatch has been owned and operated by a private investor in Stuart, Fla. 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.”
In addition to Riverwatch Marina, Southern Marinas also announced its purchase of Bradenton Boat Club in Cortez, Fla., on May 31, 2019.
Bradenton Boat Club is located just off of the intercoastal waterway on Florida’s west coast with direct deep-water access to the Gulf of Mexico. It is nestled between Anna Maria Island and Longboat Key in the historic village of Cortez. The marina features 345 slips with valet boat service, an onsite service department, fuel dock, and boat brokerage.
“As Southern Marinas continues to expand its presence in the Florida market, we view the acquisition of Bradenton Boat Club as a welcome addition to our growing portfolio of best-in-class marinas,” Gendron said.
Skip McPadden will continue as the property’s general manager.