BlueGate, a rapidly expanding provider of high-end RV and boat storage, has formed a $250-million joint venture with GEM Realty Capital to accelerate toy storage acquisitions and development across the United States.
The venture supports BlueGate’s mission to become the nation’s leading owner and operator of dedicated storage facilities for outdoor enthusiasts. The partnership with GEM will allow the company to build on its existing portfolio of premium, Class A boat and RV storage facilities located in high-demand markets.
“Our company’s sight is fixed on becoming the leading owner and operator of high-quality, fully dedicated recreational storage facilities,” said Neil Dyer, President of BlueGate. “The partnership with GEM will accelerate our growth across the country as we build a national platform delivering unmatched service and storage solutions to the recreational vehicle and boater community.”
“Over the past several years, GEM has actively surveyed and invested in the marina and RV and boat storage sectors. In line with our strategy of partnering with best-in-class operators in specialized asset classes, we are thrilled to collaborate with the BlueGate team to build a premier portfolio,” said Derek Lopez, CIO of Private Markets for GEM.
BlueGate owns and operates a portfolio of 14 storage facilities and two marinas across six states, with two additional properties currently under construction. The portfolio includes approximately 1.98 million square feet of rentable storage space, comprised of over 3,500 RV and boat storage spaces, as well as nearly 495,000 linear feet of marina capacity across 583 slips. New facilities in Christiana, Tenn., and Bonita Springs, Fla., are scheduled to open by mid-June 2025.
“Our partnership with the BlueGate team has been highly collaborative, as we work together to identify strategic markets and opportunities across the U.S.,” added Adam DeBoey, SMD of Acquisitions at GEM. “By leveraging the combined relationships and deep market knowledge of both GEM and BlueGate, we believe we are well-positioned to build a differentiated and high-performing platform in this evolving sector.”
“The recreational storage space is ripe for institutional investment,” said Ken Carpenter, President of Madison Capital Group Holdings, the parent company of BlueGate. “This partnership with GEM gives us the capital and strategic alignment needed to scale quickly and responsibly. BlueGate is building a recognized brand that boat and RV owners trust for their long-term storage needs.”
The company continues to pursue opportunities in markets with high concentrations of RV and boat ownership. Its purpose-built facilities are designed for convenience, access and security, with wide drive aisles, covered units and proximity to top recreational destinations.
“We see strong demand in the sector and remain committed to growth through strategic acquisitions and development,” added Dyer. “At the same time, we’ll continue to deliver the best possible experience for our tenants and communities.”
BlueGate provides premium, secure storage solutions tailored for boats, recreational vehicles and fleet vehicles. Its facilities feature spacious covered units, advanced security and convenient locations with easy access, wide drive aisles and protection from the elements. A subsidiary of Madison Capital Group, BlueGate is headquartered in Charlotte, N.C. Learn more by visiting bluegateboatrv.com.
GEM Realty Capital is a strategically integrated real estate investment firm with approximately $6 billion in AUM. Founded in 1994 and headquartered in Chicago, GEM tactically invests across all four quadrants of U.S. real estate: public, private, debt and equity. Grounded in fundamental real estate analysis, GEM seeks to leverage its extensive experience to anticipate market shifts, navigate periods of economic uncertainty, and identify compelling investment opportunities. For more information visit gemrc.com/.
