As the marina owners were considering their options for potential disposition, Simply Marinas provided them with valuation and market insights to help inform their decision. The marina was absentee owned and operated, offering a turnkey, passive- income investment opportunity. Due to the dockominium structure, the slips could be sold, one by one, for a potentially steep upside. The marina ownership is structured as a dockominium, presenting unique challenges that the SM team is uniquely familiar with. Further, with a recent history of major repairs and expenses, the marina operation was just beginning to stabilize, giving it an inconsistent financial performance trend. Out team created recast financials and proforma to highlight the asset’s true investment potential.
The facility offered a unique investment in the marina space, due to its streamlined operation, with revenue strictly from wet slip boat storage, and none of the other more labor-intensive revenue streams typically associated with marinas. The pool of interested investors was impressive because the facility can feasibly be absentee owned and operated, with minimal need for boots-on-the-ground employee oversight. Simply Marinas received multiple offers, many of them all cash, and at near full price with competitive bids.
”We worked with George Ash at Simply Marinas and his team. He stands out for his diligence, professionalism, and marketing out-reach. We received an impressive number of offers at near full price. His loyalty, professional management of the marina transaction, and commitment made for a smooth process and secured the perfect buyer.” - Seller, South Shore Marina