2024 March/April Marina World

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INNOVATION QUALITY COMMITMENT • Full line of hydraulic boat handling equipment • Yard, self-propelled, and highway models • Open frame design to maximize flexibility and efficiency Kropf Industrial also supplies mobile boat lifts, as well as steel or HDPE pipe floating docks, and steel floating breakwaters. www.kropfindustrial.com info@kropfindustrial.com 888.480.3777 The smart payment solution for marinas and boatyards MarinaPay is an end-to-end solution that makes it easy to receive online or on-site payments for berth rentals, shop items, and other products and services. Learn more at pacsoftmms.com SIMPLY MARINAS RELEASES THE MARINA SELLER'S GUIDE Based on decades of experience 250+Transactions $380+ million in 2022/23 sales, alone Copies are available to marina owners: Team@SimplyMarinas.Com 305-390-0397 SimplyMarinas.Com We look forward to optimize your marina's value
BUYING & SELLING MARINAS Sunset Harbor in New York is now under new ownership following a sale negotiated by Current Capital Real Estate. THE CAST Julie Fisher Berry Senior vice president, CBRE Capital Markets CBRE Marina Group | Marinas and Superyacht Facilities julie.berry@cbre.com +1 954.562.3270 Christian Johannsen Chairman and CEO, Investors Realty Service, Inc cjohannsen@ inreserve.com +1 305 586 5351 because of this demand that the marina asset class will continue to increase as a coveted investment as new investors enter the market. Q: Do you see chains/groups expanding and additional chains developing? JFB: All marina investors are expanding, however many have greater access to capital and can expand more rapidly than others. Chains are expanding but they sometimes have certain restrictions which have allowed newer groups a better opportunity to enter the market and begin developing portfolios. CW: Yes, we are seeing new capital finding new groups with the desire for each to acquire as many marinas as possible and expand in all markets. CJ: Absolutely. The “institutional” world has finally caught on to the “cash flow cows” of marinas. We’ve seen at least four to six new entries into the marinas space that were not here before. MA: Several funds and groups entering the market have contacted us with the intent of placing large investment amounts in marinas. Their intent is to create a marina portfolio and in some cases to partner with proven marina operators. Established marina groups who have consolidated several marinas continue to expand due to economy of scale, higher returns, and competitive edge. Q: Is there a market for selling a single marina for buyers who wish to run it as their sole business (i.e. a new generation of start-up family/ private ownership)? MA: Very much so. Larger companies prefer marinas over US$10 million or so and have stringent requirements. Individual buyers, lifestyle buyers, marina operators, and end users are here to stay. Keep in mind that in spite of recent consolidation of marinas by larger groups, the majority of marinas are still mom and pop owned and make a good match for individual buyers. JFB: There is a market for selling a single marina. However, it is hard for a lone buyer to compete with the highly funded investment groups in prime locations which tend to sell for higher prices and lower cap rates. If a single marina is in a non-metro area, it presents a better opportunity for a single marina buyer. CW: Are you referring to a family private ownership looking to sell their marina? If so yes, we have helped many private individuals and families sell their marinas. If you are asking if the marina class is a new possibility for families, I think that is often how it starts, from boat sales, to boat service and storage, these individuals and families establish a great business and service to get ahead and work well in markets. Marinas can be time and cost prohibitive compared to other asset classes, which requires patience and flexibility in having to deal with Department of Environmental Management (DEP), Army Corps of Engineers (ACOE), MPP and other governmental agencies to get approvals, and the cost to construct (seawalls, dredging etc). That being said, there is a lack of marina developers and groups willing to undergo the time and risk these days. Calum Winsor Current Capital Real Estate Group cwinsor@cc-reg.com +1 954 966 8181 Michelle Ash Principal, Simply Marinas ash1@ simplymarinas.com +1 305 439 9581 I think that there is a need for more marina developers to expand and grow the limited supply of marinas. I think people can be extremely successful if they pursue this as their sole business but do need to understand the industry and hurdles they will face. CJ: It used to be more so with individuals. Today, individuals/ families can’t afford the time or cost. If you could develop a new marina (or redevelop an old), it could conceivably take around three years to get the necessary permits from Department of Environmental Resource Management (DERM), DEP and ACOE. Furthermore, pricing and costs have increased so much that a marina acquisition today is probably well beyond the ability of most individuals/ families. The average sale price of the marinas we’ve sold in the last three years is US$17 million… Q: What tips would you give a marina owner wishing to sell? JFB: The best thing a seller can do to prepare for a sale is to have as much documentation compiled and organised as possible. Having their financials in order, along with other documents www.marinaworld.com – March/April 2024 35
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Page 6 and 7: STRONG · SAFE · SUSTAINABLE SEAFL
Page 8 and 9: QUICK AND CLEAN WASTEWATER DISPOSAL
Page 10 and 11: Delivering the marinas of tomorrow
Page 14 and 15: Leading UK Manufacturer GOLD STANDA
Page 16 and 17: Discover the Future of Marina Stora
Page 19 and 20: SUPERYACHT FACILITIES Dock Maarten
Page 21: SUPERYACHT FACILITIES Luring megaya
Page 24 and 25: MORE INFO BOOK YOUR STAND NOW! FIRS
Page 26 and 27: THE BIGGEST FLOATING PONTOON MANUFA
Page 28: SUPERYACHT FACILITIES Lusben Varazz
Page 31 and 32: BUYING & SELLING MARINAS The sale o
Page 33: BUYING & SELLING MARINAS Calum Wins
Page 37 and 38: BUYING & SELLING MARINAS Four Corne
Page 39 and 40: MARINA CHAINS Marina de La Duquesa
Page 42 and 43: MARINA EVENTS The base behind the r
Page 44 and 45: COMPOSITE DECKING & BUMPERS MORE TH
Page 46: FUEL TECHNOLOGY NatPower H stations
Page 49 and 50: BOAT SHARING to bring more people o
Page 51 and 52: PRODUCTS & SERVICES Swedish Riviera
Page 53 and 54: Making marinas - truly - smarter Sm
Page 55 and 56: PRODUCTS & SERVICES A gateway to Fi
Page 57 and 58: PRODUCTS & SERVICES South Pacific S
Page 60: SETTING THE WORLD STANDARD IN MARIN

2024 March/April Marina World

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