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Atlantic Marina Holdings LLC has acquired the Tierra Verde Marina Resort for $22.5 million, property records show.
Tierra Verde becomes the company's third purchase in Florida since 2015.
The Pinellas County marina includes 515 dry and wet slips and 10,000 square feet of marine retail and resort amenity space.
The Charleston, S.C.-based company previously bought the PGA Marina in Palm Beach Gardens and the Fort Lauderdale Boatyard and Marina, in Fort Lauderdale. Both properties are being redeveloped and will be completed next year.
In all, Atlantic Marina's portfolio contains in excess of $200 million worth of marina properties.
“Our focus is on quality of real estate, not quantity,” says Atlantic Marina principal Joe Miller. “The purchase of Tierra Verde Marina Resort is in keeping with our strategic goal of investing in high barrier to entry 'core' markets in Florida and the Southeast.”
The Tierra Verde property will be managed by AMH Management.
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