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Suntex Adds N.J. and Florida Marinas to Expanding Portfolio

Suntex Adds N.J. and Florida Marinas to Expanding Portfolio

Dallas-based Suntex Marina Investors has purchased Green Cove Marina in Brick, N.J. This acquisition builds on other recent acquisitions by Suntex on the Jersey Shore.

Green Cove is a full-service marina along the New Jersey coastline that has approximately 250 slips ranging from 14- to 46-feet. Amenities include security gates, a fuel dock, and a full-service department. The property has a 25-ton travel lift for larger vessels.

“Within the past several months we have made significant investments in properties along the Jersey Shore, including the purchase of the Channel Club Marina and Key Harbor Marina,” said Sam Chavers, Senior Vice President, Operations, Suntex Marinas. 

“Green Cove is very popular with its loyal patrons, and we are very excited to be able to lend to the facility our unique and caring management style. We are confident that this property will continue to be successful as we add our significant resources towards improving on the grounds.”

In October, Suntex landed its first Florida panhandle acquisition with the purchase of the Legendary Marina in Destin, Fla, which is in one of Florida’s most popular tourist destinations and is among the largest dry storage facilities in the United States with over 180,000 square feet of space to accommodate 780 vessels. The property has six marine forklifts with the ability to lift boats up to 53-feet in length. Amenities include unlimited in-and-out of water services; an exterior soap wash; complimentary engine flushes; waste pump-out; a fish cleaning station; ship store with refreshments, boating necessities and apparel; gasoline and diesel fuel; and on-site sales, service and parts. In addition, guests and members can take advantage of a spacious, private bar, gym, locker room with showers, an infinity pool and a patio area that can accommodate up to 200 people.

The Legendary barn, which is once stood as a blank canvas, is now home to world-renowned marine artist Wyland’s Whaling Wall #88, Marine Life of the Gulf. Boasting the largest marine mural in the world, Legendary Marina is recognized as a historical and iconic landmark. To follow, the roof was adorned with a large American flag and the verbiage “God Bless America.” In 2017, the Guinness Book of World Records officially named the flag the largest painted flag mural in the world – measuring in at 3.8 acres. The stars are a staggering 17-feet, 8-inches from point to point.

Destin offers 24 miles of sugar white beaches and mild weather making it a perfect year-round boating destination. The property is located on the Choctawhatchee Bay giving boaters convenient access to the bay and to the Gulf of Mexico through the East Pass attracting boats of all sizes.

“We could not be more excited to enter the Florida panhandle and Legendary Marina fits perfectly into our strategy of coming into a market with a best-in-class asset,” said Chris Petty, Senior Vice President of Investments, Suntex Marinas. “This transaction kicks off a strategic relationship to bring further development and investment to the boating community in the near future.”

About Suntex: Suntex Marinas engages in the ownership and management of marina properties. The executive officers at Suntex have over 100 years combined experience investing in, acquiring, and managing marinas. Suntex prides itself on a growing reputation in the marina industry for its commitment to superior customer service, experienced marina managers and staff, conscious contributions to marina communities and expansive enthusiasm for creating treasured memories on the water. The Suntex portfolio includes marinas located in Arizona, California, Florida, Georgia, Illinois, Iowa, Kentucky, Maryland, New Jersey, New York, Oklahoma, Texas, Tennessee and Virginia.

 www.suntex.com

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