Marina World July August 2023

Marina group in
administration
UK: The Marine and Property Group, owner and operator of
marinas in Cardiff, Burry Port, Aberystwyth and Port Dinorwic went
into administration in May. Port Dinorwic Marina (above), which
was acquired by the group in 2017, has also followed suit and
accountancy firm Azets has been appointed as administrator.
Port Dinorwic is a 180-berth
grade 2 listed picturesque marina
which opens on to the Menai
Upgrading key infrastructure
ITALY: In addition to a variety of challenging overseas projects,
Ingemar has once again won diverse contracts for wide-ranging
mooring infrastructure at Italian clubs and marinas.
In La Grazie Bay, Gulf of La
Spezia, Ingemar has finished
replacing a series of buoys
with around 1,440m (4,700ft) of
floating pontoons. This involved
the installation of two long
mooring piers comprising steel
pontoons with concrete floats
and tropical timber decking. The
company has also completed a
4m (13ft) wide floating barrier
to protect jetties at La Spezia
Sailing Club at the Molo Italia.
The company has also started
work on a pontoon replacement
contract for two basins (west and
east) at the municipal marina
in Palau. Ingemar installed the
original pontoon system in 1987.
Strait. It continues to trade while
marina operations are being
assessed.
Five floating piers with fingers
are planned for the west basin
and two, also with fingers, for the
east.
Porto Turistico di Jesolo,
a constantly evolving tourist
harbour with a complex of
basins just to the north of the
Venetian lagoon, has also called
on the company for additional
infrastructure. This year Ingemar
is completing a new floating
structure parallel to the shoreline
that was previously used for
moorings. The long steel-framed
pontoon will be anchored with
steel piles and sliding devices to
offer stern-to mooring for yachts
up to 30m (98ft).
WORLD NEWS
Go Outdoors
platform launch
USA: Monarch Alternative Capital, a leading
investment firm with around $11 billion of
assets under management, has formed Go
Outdoors, a platform to acquire, develop, and
operate marinas and RV resorts across the
USA.
Monarch launched
the platform with the
recapitalisation of two
large-scale portfolios,
and has partnered
with Safe Harbor
Development to manage
existing portfolios and
help grow the platform
Ian Glastein
through acquisitions and
development.
The platform will initially comprise 11 marinas
and four RV resorts offering over 5,500 marina
slips in Georgia, New York, Pennsylvania and
Tennessee.
“The launch of our marina and RV platform
comes at a dynamic time for the industry given
the attractive supply-demand fundamentals and
increasing consolidation. We are excited to be
partnering with Safe Harbor Development, who
we believe is a best-in-class operator and pioneer
within both the marina and RV resort spaces and
will help us achieve our
growth and executive
objectives,” said Ian
Glastein, managing
principal and co-head of
real estate at Monarch.
“We believe our asset
management expertise
and access to capital will
support the continued
Darby Campbell
success of the platform
and favourably position us to capitalise on this
unique opportunity set,” he added.
Darby Campbell, founder and president of Safe
Harbor Development, commented: “We have been
at the forefront of the industry for over 20 years.
The recreational development space continues to
grow strongly so we believe it was the best time
for Safe Harbor Development to expand along with
the industry.”
“As we look ahead, we are excited to be
partnering with Monarch on Go Outdoors. Their
extensive investing and execution capabilities
and commitments align with our goals of bringing
exceptional offerings and experiences to our
customers. We believe their investment will allow us
to grow and achieve our goals on a greater scale.”
www.marinaworld.com – July/August 2023
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