Shutts & Bowen LLP attorneys recently represented Southern Marinas Holdings, LLC (“Southern Marinas”) in its acquisition of three premier Florida properties, in a transaction totaling more than $50 million.
On March 17, 2020, Southern Marinas announced its growing marina portfolio. The acquisition from Aqua Marine Partners, LLC brings their total properties to 10, with the newly added Hi-Lift Marina in Aventura, Hidden Harbour in Pompano Beach and Palm Harbour in Cape Haze. The purchase of key locations such as these three new additions has been instrumental in expanding Southern Marinas’ brand and overall growth.
The team of Shutts & Bowen attorneys, acting as co-counsel for the purchasers, included Sarasota partners John Patterson and Leah J. Zammit, West Palm Beach partner Matthew R. Chait, Tampa partner Deborah A. Getzoff and Miami partner David J. Coviello. The Shutts & Bowen responsibilities included real property, environmental and land use matters, in addition to assisting in the closing of the acquisition. The Shutts team also worked on the acquisition with co-counselors Mike Sim of Haile, Shaw & Pfaffenberger, P.A. in North Palm Beach, and Todd A. Caraway with Moore & Van Allen in Charlotte, North Carolina.
The timing of the acquisition coincides with an increase in boating activity, as people across the State of Florida choose to practice social distancing through acceptable recreational settings. While the marinas are currently open and running as normal, Southern Marinas’ management team will continue to monitor all government updates on the COVID-19 pandemic. The marinas will be implementing protocols and closures outlined by state and local agencies with the primary goal of providing a safe environment for boaters and team members at their locations.
About Southern Marinas Holdings, LLC
Southern Marinas Holdings, LLC is a premier owner and operator of properties strategically located in the southeastern United States. Their experienced leadership team has more than 75 years of combined experience and specializes in marina acquisition and management. Their philosophy is to extend a warm welcome and gracious “Southern Hospitality” across all touchpoints of the customer experience. The proven systems, strategies, and philosophy that they have implemented across their marina portfolio, allows them to maximize operational efficiency and deliver premium value to their members, associates, business partners, vendors, and investors.