Suntex Ventures, the Dallas-based owner and operator of marina properties, in partnership with Harrison Street Real Estate Capital, the Chicago-based real estate private equity firm, is delighted to present the acquisition of the Bay Pointe Marina as well as Seacrest Marine Services in the historical town of Quincy, Massachusetts. This superyacht marina location provides convenient access to the Boston Harbor, Massachusetts Bay, and the Atlantic Ocean.
Bay Pointe Marina
Bay Pointe Marina is a multi-faceted marine property that consists of 6.97 acres of upland with 258 wet slips that can accommodate yachts up to 200 feet. Bay Pointe Marina contains a first-class amenity base consisting of a full-service marine repair company; renowned restaurant, The Inn at Bay Pointe; winter dry storage; and fuel dock.
“Bay Pointe Marina is truly a hidden jewel of the Northeast. Quincy, Massachusetts has unbelievable history and charm,” Jon Meyers, Vice President of Mergers and Acquisitions of Suntex Ventures, said. “We see it poised for significant growth in the coming years. We could not have found a more perfect asset for our entry into the Boston market.”
This transaction marks the third acquisition by Suntex Ventures in 2012, including Saylorville Lake Marina near Des Moines, IA and Crosswater Yacht Club on Lake Travis in Austin, TX. Suntex Ventures now owns and operates a portfolio of twelve marinas and one marina loan with a total value of approximately $150M. The Suntex vision is to be the pre-eminent resort marina company in the world and is actively seeking premier marinas around the world for acquisition.
The Suntex team is enthusiastic regarding the opportunity to work with its joint venture partner, tenants, guests, and the State of Massachusetts to enhance the community and stakeholders. Financing for the transaction was provided by American Bank of Texas.
