Neil Dyer was recently promoted to President of BlueGate Boat & RV Storage, an affiliate of Madison Capital Group, as the company continues expanding its portfolio of premium storage solutions for boat and RV owners nationwide. Previously serving as Vice President of Acquisitions & Development, he has been instrumental in executing and launching BlueGate’s platform, which now operates across six states. Since 2018, he has been instrumental in identifying opportunistic storage acquisitions throughout the country. Previously, he was an associate at CBRE, utilizing market intelligence to optimize real estate solutions for clients. With extensive experience in real estate, Neil is committed to driving growth and enhancing property value. He currently is a valued member of the Toy Storage Nation (TSN) Advisory Board. TSN recently had the pleasure of interviewing him as he assumed his new position, gleaning his insights on the RV and boat storage industry as well BlueGate’s current success and ambitious future.
How do you see your role changing from your previous role as Vice President of Acquisition & Development at Madison Capital Group LLC to the President of BlueGate?
I’ve always loved sourcing and executing deals across all asset types—multifamily, retail and storage. Now, at BlueGate, I’m all-in on building this platform into a premier, institutional-quality portfolio of assets. While I’ll still be heavily involved in the deal side of the business, my role now goes beyond acquisitions to growing the entire platform from top to bottom.
A big focus for me is ensuring that we have a best-in-class operating company that gives us a competitive advantage and delivers the best experience for our boat and RV customers. The biggest shift in this role is that I’ll be much more involved in the operational side of the business, making sure we’re positioned for long-term success.
Please give a brief overview of BlueGate’s current portfolio. Can you please tell us about your plans for expansion?
Currently, BlueGate owns and operates 11 properties, including three marinas across Arizona, Florida, North Carolina, Tennessee and Texas. Our portfolio consists of a mix of covered, uncovered, enclosed, dry stack storage and waterfront marinas, offering a variety of storage solutions for boat and RV owners.
Looking ahead, we see tremendous growth opportunities. While we are still relatively small today, we have aggressive plans to expand, with a goal of building and acquiring over 100 facilities in the next three years. We’ll soon be deploying over $200 million in equity to scale this business, focusing on assets like our current portfolio. Additionally, we plan to expand into industrial outdoor storage, which will provide greater scale in our strategic markets and further establish BlueGate as a leader in the alternative storage space.
Why is pursuing Class A RV and boat storage important to the BlueGate brand?
BlueGate was established with the vision of creating a nationally recognized brand catering to boat and RV owners. Boat and RV storage is the core of our business, and we are committed to delivering best-in-class facilities and customer service to this underserved asset class. We see tremendous growth potential in this space.
Since entering the business in 2020—leveraging our self-storage experience—we’ve recognized strong similarities between boat and RV storage today and the self-storage industry 20 years ago. With highly fragmented ownership across the sector, we have a unique opportunity to bring institutional-quality operations and best-in-class management to these properties. As an early mover in this space, we believe there is significant long-term potential to establish Class A boat and RV storage as a desirable institutional asset class for all levels of real estate investors.
How has the landscape changed from when you first started in RV and boat storage to today’s market? What unique challenges do you see for the coming 
few years in the industry as a whole and BlueGate more specifically?
When BlueGate first entered the boat and RV storage industry in 2020, the market was highly fragmented, much like self-storage was 20 years ago. There was a clear lack of institutional-quality facilities, and many properties were independently owned and operated with minimal focus on best-in-class customer experience. We saw an opportunity to bring a higher level of professionalism, operational efficiency, and scalability to the space.
Since then, demand for premium boat and RV storage has continued to grow, driven by increased RV and boat ownership, shifting consumer preferences and a lack of sufficient high-quality storage options. More investors are beginning to recognize the potential in this asset class, but there is still a significant runway for consolidation and institutionalization.
Looking ahead, the biggest challenges will come from rising capital costs, increased competition as more players enter the space and navigating regulatory hurdles in securing prime locations. For BlueGate specifically, our focus will be on scaling efficiently while maintaining our commitment to top-tier operations. We are not only growing our portfolio of Class A boat and RV storage facilities but also expanding into industrial outdoor storage, which will give us greater flexibility and market reach. With $200 million in equity set to be deployed, our challenge—and opportunity—will be executing on our aggressive growth plans while ensuring we continue to provide the best storage solutions for our customers.
BlueGate Boat & RV Storage’s portfolio now includes marinas. How is the marina market similar to RV and boat storage facilities–from a developing, managing and investing point of view–and how is it different?
BlueGate expanded into the marina space because of its natural alignment with boat and RV storage. Both cater to recreational vehicle owners, share a highly fragmented and largely uninstitutionalized market, and present strong investment opportunities. From a real estate perspective, these asset classes complement each other, allowing us to expand 
our brand while leveraging our expertise in storage and operations.
However, marinas differ significantly in terms of management and operations. Boat and RV storage is largely hands-off—customers drop off their assets and leave, making it a relatively turnkey business. In contrast, marinas are highly operationally intensive, functioning as full-service destinations with multiple business components. They require hands-on management, as they involve many services in one place, including fuel sales, retail operations, restaurants and hospitality services. In many ways, marinas are a blend of commercial real estate and storage, where the customer experience and service offerings are just as critical as the facility itself.
Is it more difficult to acquire/develop marinas? How does the buy differ? Should RV and boat storage developers/operators/investors be exploring marinas as well? Why or why not?
Acquiring and developing marinas is definitely more challenging than traditional boat and RV storage. Unlike storage facilities, marinas often involve dealing with regulatory bodies like the Army Corps of Engineers, navigating complex waterfront property pricing and managing highly seasonal, hands-on operations. The management aspect is far more intensive: Marinas require a full-service approach, including fuel sales, retail, hospitality and focusing on the overall customer experience, especially during peak seasons.
For developers, operators and investors in boat and RV storage, exploring marinas can be an attractive opportunity, but it’s not a simple transition. While there are similarities in market fragmentation and the opportunity to institutionalize the asset class, the operational demands and regulatory complexities make marinas a much more hands-on business. Success in this space requires a strong team with specialized experience in marina operations.
At BlueGate, we’ve been fortunate to build a talented team across boat, RV and marina assets, giving us a competitive advantage as we expand into these markets. For investors considering marinas, having the right operational expertise in place is critical to making it a viable and scalable investment.
Where do you see the most opportunity for growth in RV and boat storage now and within the next five years–paying consideration to acquiring vs developing, specific geographic regions, etc.?
We are still in the early innings of boat and RV storage, and there is tremendous runway ahead for growth. As more players enter the space, institutional interest will continue to expand, bringing greater attention and investment to this asset class. Right now, BlueGate owns just 15 assets, but over the next five years, I see us growing to over 200 properties as we scale our platform.
From a growth-strategy perspective, both acquisition and development present strong opportunities. The market remains highly fragmented, making acquisitions a keyway to consolidate and enhance existing facilities. At the same time, ground-up development allows us to build best-in-class facilities in high-demand areas, ensuring we meet the evolving needs of boat and RV owners.
Geographically, our focus remains on core markets throughout the Southeast, but we are also expanding into new regions across the U.S., including the West Coast. As outdoor recreation continues to grow, so will the demand for premium storage solutions. Our goal is to establish BlueGate as a nationally recognized brand, delivering top-tier facilities and experiences to boat and RV owners nationwide.
To learn more about BlueGate Boat & RV Storage visit the website bluegateboatrv.com.
