A South Carolina company has acquired a trio of marinas in Southwest Florida from Walker Marine Group.
Charleston-based Port 32 Marinas bought Walker Marine Group marinas in Naples, Marco Island and Cape Coral. The purchase price wasn’t disclosed.
The Walker Marinas include approximately 1,015 slips and offer a variety of marine-related amenities, according to a statement. Each marina also features on-site sales and service operations by OneWater Marine Inc. as a long-term commercial tenant. The facilities, the release adds, “provide stable and recurring storage income, as well as commercial lease income from a well-established and highly respected sales and service tenant.”
"I am very pleased to see my marinas go to PORT 32,” Walker Marine Group President and CEO Jim Walker says. “It gives me great comfort to know that my customer base will continue to be served by a like-minded operator, focused on delivering a great customer service experience consistent across all marinas.”
The transactions mark the first acquisitions to close following the completion of Port 32's previously announced recapitalization led by New York-based investment firm Fireside Investments. Following the completion of the acquisitions and the completion of redevelopments in Fort Lauderdale and Palm Beach Gardens, Port 32 will own and operate approximately 4,100 dry and wet slips and over 140,000 square feet of commercial tenant space.
"We are delighted to welcome the Walker Marinas, their employees and customer base to Port 32,” Port 32 CEO Joe Miller IV says in the release. “These are high quality assets which fit tremendously well with our strategy of acquiring best in class facilities in each of our target markets. Our operating approach and focus on customer service align well with the way Jim Walker has run these marinas."
Port 32 Marinas is a leading owner, operator, developer and acquirer of dry and wet slip coastal marina assets.