Southern Marinas acquires Aqua Marine properties
Southern Marinas Holdings, LLC, a partnership between a New York-based private investment firm and Southern Marinas, announced the purchase of Hi-Lift Marina in Aventura; Hidden Harbour in Pompano Beach; and Palm Harbour in Cape Haze.
These Florida locations were acquired from Aqua Marine Partners, LLC in a deal that brings the growing Southern Marinas portfolio to ten properties. Southern Marinas said, while the timing of the acquisition comes as people are practicing social distancing, boating provides a fun activity to get outside in a healthy, recreational setting with family and friends. Southern hopes it will continue to be able to meet the needs of boaters and keep them out on the water during the weeks ahead.
Located just off the Intracoastal Waterway in Aventura, Fla., between downtown Fort Lauderdale and Miami, Hi-Lift Marina offers a location just minutes away from the Baker’s Haulover Inlet. The historic landmark marina features full-service dry storage operations and a showroom of new boats, a boat club and yacht brokerage facilities.
The newest full-service dry storage marina in Pompano Beach, Fla., Hidden Harbour is the closest dry storage facility to the Hillsboro Inlet; and with no fixed bridges, Southern Marinas says it offers fast and easy access to the Atlantic Ocean. The dry stack marina can accommodate boats up to 43-feet and is capable of withstanding hurricane-force winds up to 140 miles per hour (Category 4). In addition, the marina will soon be neighbors with a new community being developed by Andy Sturner, CEO of Aqua Marine Partners. This mixed-use development will feature apartments, restaurants and retail and commercial tenants.
“I am delighted to be working with the Southern team as our development moves forward. I have known the principals of Southern for many years, and this will be an ideal situation for both of our organizations,” said Sturner.
Palm Harbour is a boutique, resort-style marina, situated minutes from Boca Grande Pass. The property features dry stack storage for vessels up to 40-feet and the marina’s wet slips can accommodate boats up to 65-feet. Whether arriving by water or land, the property features an array of amenities and services.
“We are excited to add Hi-Lift, Hidden Harbour and Palm Harbour marinas to our rapidly growing portfolio,” said Andrew Gendron, principal and chief investment officer with Southern Marinas. “Our overall goal is to continue to expand the Southern Marinas brand through the purchase of key locations. Our team is always on the lookout for new and exciting opportunities like this one from Aqua Marine.”
While the marinas are currently open and running as normal, Southern’s management team said it will continue to monitor all government updates on the COVID-19 pandemic. The marinas will be implementing the protocols outlined by these agencies with the primary goal of providing a safe environment for boaters and team members at their locations.
