Miami-based real estate investment and development firm Integra Investments, under its “Integra Marinas” platform, announced the acquisition of one of the highest-profile marinas in Miami’s urban core, Sea Isle Marina. Sea Isle Marina is the new home to the world’s largest boat and yacht event, Miami International Boat Show. Terms of the sale could not be disclosed.
Located at 1635 N. Bayshore Drive, in Miami’s Arts & Entertainment District, Integra Marinas plans to invest significantly in converting the marina into a world class boating destination.
As part of the asset upgrade, Integra Marinas will replace and renovate all portions of the marina. This includes reconfiguring wet slips to harbor vessels up to 110 feet and enhancing current on-site services with the addition of lift slips, state-of-the-art boating technology, a new fuel system and superior onsite service. Oasis Marinas will be managing the property for Integra Marinas.
“Sea Isle Marina’s unparalleled location and fundamentals offer tremendous opportunity to capitalize on Integra Marina’s unique formula to own, operate and turn around a marina property to reach peak performance,” said Integra Investments principal Victor Ballestas. “As an avid boater and growing up on the water, I visited Sea Isle often and look forward to being a part of its transformation.”
By land, Sea Isle Marina’s prime address affords direct access to downtown Miami and major interstates, while by sea, boaters enjoy unrestricted access to the bay and ocean via the Intracoastal Waterway. The full-service marina currently includes 222 wet slips that can accommodate 40 to 100 feet vessels, long- and short-term docking, and includes a fueling station and supply store.
Integra Marinas acquired Sea Isle Marina from Florida East Coast Realty, LLC, the original developer of the property.
“We are thrilled that Integra Marinas will lead the redevelopment of the marina, as it will greatly impact the experience as a best-in-class boat show location and enhance the overall waterfront aesthetic,” said Andrew Doole, President of U.S. Boat Shows.
“With ongoing demand for marina redevelopment amongst those investing in this space, the acquisition of this trophy marina asset marks our strategic growth trajectory in coastal markets and strengthens our competitive position in the sector,” added Integra Marinas principal Matthew Juall.