Port 32 Marinas acquires three marinas from Walker Marine Group

USA
16th August 2021

Port 32 Marinas acquires three marinas from Walker Marine Group

Port 32 Marinas acquires three marinas

Port 32 Marinas, a leading owner, operator, developer and acquirer of Class A coastal marinas, has acquired three marinas from Walker Marine Group.

The marinas are located in Naples, Marco Island and Cape Coral, Florida, and include approximately 1,015 slips and offer a variety of marine-related amenities. Each marina also features on-site sales and service operations by OneWater Marine Inc. as a long-term commercial tenant.

Consistent with Port 32’s strategy of acquiring the highest quality marinas in core coastal markets with a focus on highly desirable dry storage facilities, the Walker Marinas provide stable and recurring storage income, as well as commercial lease income from a well-established and highly respected sales and service tenant.

Joe H. Miller, IV, Chief Executive Officer of Port 32, commented:

Following the completion of the acquisitions and the completion of redevelopments in Fort Lauderdale and Palm Beach Gardens, Port 32, based in Charleston, South Carolina, will own and operate approximately 4,100 dry and wet slips and over 140,000 SF of commercial tenant space.

The transactions mark the first acquisitions to close following the completion of Port 32’s recapitalisation led by New York-based investment firm Fireside Investments.

Jim Walker, President and CEO of Walker Marine Group, commented:

About Port 32 Marinas About Walker Marine Group

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