Strong Interest in Marina Acquisitions Continues – Valuations Change: 2022 Going into 2023
The Simply Marinas team has hit the ground running in 2023 and seeing continued strong interest in marina acquisitions.
In spite of the higher interest rates and uncertainty in the commercial real estate market overall, new groups and well-funded investors are continuing to enter the marina market. Our team is dedicated to identifying the right marina deals for our qualified clients.
These investors state that their interest in marina acquisitions is based on factors such as the limited supply of marina properties, restrictions to entry, and having higher cap rates than other commercial real estate assets such as multifamily, office, retail, or self-storage. The accelerated depreciation and ability to create higher revenues proved to be appealing factors, as well.
For the midsize to large marinas, we continued to see strong valuations and short closing timelines from cash buyers, or buyers with investment funds in place and a strong banking relationship. Alternatively, small marinas are requiring longer due diligence at higher cap rates than what we have seen in 2021/22.
In general, we are seeing a change in valuation criteria. Investors are proving to be more conservative in their marina valuation, primarily due to more restrictive funding and higher interest rates.
Seller financing and alternative private lending options are becoming more commonplace to facilitate deals over short-term periods. Private lending offers interest-only short-term loans for those who intend to refinance within 3 to 5 years. These options allow buyers to refinance later with traditional banks when interest rates and the debt market are more favorable.
Simply Marinas Sales
The Simply Marinas team has had a strong streak of marina and marina resort sales over recent months. While the company’s transactions included marinas of varying sizes, the majority of the sales have been trophy marina sales as well as mid-size marina sales, nationwide. The sales were exclusive offerings of our team, conducted through a confidential process and presented to the Simply Marinas’ network and to select prequalified buyers through a competitive bidding process.
Simply Marinas Team Recent Sales Include:
Garrison bight Marina, FL Keys
Coconut Cay Marina and Resort , Marathon Key, FL
Chula Vista Marina, SD
Channel Club Marina – NJ
Miami River Marine Site, FL
SE Marina and Resort Portfolio
Marinas at Little Harbor, FL
Four Corner Marina and RV Resort, TN
Cedar Creek Marina and Resort, TN
Holden Beach Marina, NC
Key Colony Marina, Marathon Key, FL
Yacht Haven Marina, FL Keys
North Point Yacht Club, TX
Port Charles Harbor, MS
Miami River Marina, FL
Smugglers Cove Marina, KY
Dry Storage Marina, FL
Leatherwood Marina, TN
About Simply Marinas
Simply Marinas has been a leader in marina acquisitions and dispositions for more than 20 years and across more than 250 transactions. A family-owned and operated marina brokerage, we are also marina investors and lenders who offer our clients expertise from presale groundwork through valuation, due diligence, financing, and successful closings. Contact us at email@example.com, or 305-390-0397 to find out how our network of over 13,000
marina investors, as well as our experience, can help you close the deal. For more information on the company track record, offerings and case studies, visit www.simplymarinas.com. Many of our offerings are confidential and are not on the website. Please register with our team to receive our offerings.