Target Information

Bain Capital’s Real Estate team and BlueWater Marinas have announced their acquisition of Boathouse Marine Center (BMC), a premier dry-stack marina located in Pompano Beach, Florida. This acquisition marks a significant addition to the joint venture's growing portfolio, which aims to enhance its operations in high-quality, storage-centric marina properties along the East Coast. The financial specifics of this private, off-market transaction remain undisclosed.

Boathouse Marine Center is strategically located near the Hillsborough Inlet, in a high-demand area characterized by affluent demographics and robust year-round boating activity. The marina is positioned to leverage ongoing trends in the boating industry, capitalizing on significant supply-demand imbalances.

Industry Overview

The marina sector in Florida has exhibited remarkable resilience and growth potential, fueled by a consistent influx of boating enthusiasts and increasing consumer spending on recreational activities. As a premier boating destination, Florida benefits from favorable weather conditions, making it an attractive market for both seasoned boaters and newcomers.

The demand for marina services has escalated, driven by trends toward luxury and larger boats, which require specialized storage solutions like dry-stack facilities. Florida's extensive coastline and numerous waterways also establish a high entry barrier for new marina developments, reinforcing the stability of existing operators.

According to industry experts, structural supply constraints and a growing consumer preference for experiential purchases are expected to propel the marina market forward. The rise of eco-tourism and recreational boating during the post-pandemic recovery period points to fertile ground for future growth.

Rationale Behind the Deal

This acquisition aligns with Bain Capital’s investment strategy focused on sectors characterized by enduring demand drivers and high barriers to entry. Andrew Terris, a Partner at Bain Capital, emphasizes that the BMC acquisition represents a compelling opportunity to enhance their investment portfolio in a high-traffic boating area.

The strategic positioning of BMC in a densely populated market allows the joint venture to leverage operational expertise from BlueWater Marinas to further capitalize on market dynamics, ensuring a sustainable and profitable operation.

Investor Information

Bain Capital Real Estate, established in 2018, focuses on hard-to-access sectors with stable long-term growth prospects. Having committed over $9 billion in equity across various sectors, Bain Capital Real Estate draws on its vast expertise to maximize value from its assets. As a leading private investment firm with approximately $185 billion in assets under management, Bain Capital is well-equipped to navigate the complexities of the real estate market.

BlueWater Marinas, headquartered in Charleston, South Carolina, is comprised of industry veterans who possess deep expertise in marina development and management. Formed by key executives from notable marina brands, BlueWater is dedicated to building and operating a distinct portfolio of premium marina assets along the East Coast, delivering exceptional customer service and operational excellence.

View of Dealert

The acquisition of Boathouse Marine Center is viewed positively from an investment standpoint. The marina's strategic location and the established reputation of both Bain Capital and BlueWater Marinas underscore the potential for long-term profitability. The increasing demand for recreational boating, coupled with the scarcity of storage options in premium boating markets, significantly enhances the investment’s attractiveness.

Additionally, the partnership leverages Bain Capital’s substantial financial resources and BlueWater’s operational know-how, positioning the joint venture for sustained success. The combination of firm backing and industry expertise paves the way for innovative operational improvements, which can further enhance returns on investment.

In conclusion, the acquisition is poised to capitalize on significant trends within the marine industry, making it a strategic and potentially lucrative venture. Industry dynamics indicate strong growth opportunities that could yield favorable returns for both Bain Capital and BlueWater Marinas as they build a premier collection of marina properties.

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