Jupiter, Fla. – Loggerhead Marina (“Loggerhead”) today announced that it has sold 11 of its marinas throughout Florida to Suntex Marina Investors LLC (“Suntex”). Loggerhead is one of the best-known and well-respected marina operating brands in the Southeast with premier locations on the East and Gulf coasts of Florida.
The transaction included over 2,300 wet and dry slips and multiple restaurants located in luxury locations stretching from Miami to Daytona Beach, and on Florida’s West Coast. As Loggerhead is a well-established brand in the marketplace, the name will be retained at all the facilities as a seamless transition to Suntex transpires.
“We are excited to be part of a brand that shares our core values of providing the highest quality family experience, as well as protecting our environment for the enjoyment of current and future generations. I will remain fully engaged in the marine industry, in both seeing through the workplace transition of all our Loggerhead team members, and in expanding relationships through my involvement with the Loggerhead Marinelife Center,” said Raymond Graziotto, president and chief operating officer of Seven Kings Holdings, Inc., and founder of Loggerhead Marina.
“This transaction will be transformational for Suntex and our efforts to continue to provide an unmatched customer experience around the country. The Loggerhead marinas greatly expand our ability to offer our Suntex customers access to prime marina locations and amenities throughout the state of Florida,” said Bryan Redmond, founding principal of Suntex. “Not only are the Loggerhead properties the perfect complement to our existing marina portfolio, but they share our deep and driving commitment to the environment, and to clean and responsible boating. Every Loggerhead property participates in the Responsible Boating Initiative, and we will apply those same practices to all of our Suntex locations,” said Mitchell E. Jones, principal of Suntex.
As part of the purchase, Suntex has committed to maintain a philanthropic partnership with the Loggerhead Marinelife Center. A nonprofit facility focused on ocean and sea turtle conservation, the facility houses a variety of exhibits, live sea turtles, and other coastal creatures. It also provides outreach programs and educational experiences for children, and hosts more than 300,000 guests per year. Suntex is now one of the largest, single donors to the Loggerhead Marinelife Center and its current capital campaign.
Michael Nissley and Jason Spalding of CBRE’s Marina Services represented Seven Kings Holdings, Inc./Loggerhead Marina in the portfolio transaction.
The opportunity was marketed internationally and received a substantial amount of interest from marina owners, operators, private equity firms, and real estate developers. The marina portfolio sale illustrates the current market dynamics in the space amid a trend toward national consolidation.
About Seven Kings Holdings, Inc. and Loggerhead Marina
Seven Kings Holdings, Inc. entered the marina field in 1995 with its purchase of Frenchman’s Marina (now Loggerhead Marina – Palm Beach Gardens), and has consistently increased its marina holdings on a regular basis. The company owns and manages 12 Loggerhead Marina-branded marinas, representing a substantial portfolio of unique and valuable waterfront properties throughout Florida. Using proven management practices developed from many years of real estate management, Seven Kings has transformed these marina assets into some of the premier boating centers in Florida. Loggerhead Marina is one of the best-known and well-respected marina operating brands in the Southeast, and has developed a family of marinas dedicated to providing the utmost attention to each and every members’ boating experience. For more information, visit skholdings.com and loggerheadmarina.com.
About Loggerhead Marinelife Center
Loggerhead Marinelife Center is a 501(c)3 nonprofit education and ocean conservation facility located on the Atlantic Ocean in Juno Beach, Florida. The facility houses a variety of exhibits, live sea turtles, and other coastal creatures. Exhibits include a massive, prehistoric Archelon sea turtle replica, saltwater aquaria, and displays of local wildlife, as well as educational displays about South Florida’s marine environment. The center promotes the conservation of ocean ecosystems with a special focus on threatened and endangered sea turtles, and is recognized locally and internationally as one of the leading authorities in sea turtle education, research, and rehabilitation. For more information, visit marinelife.org.
About Suntex Marina Investors, LLC
Suntex Marinas engages in the ownership and management of marina properties. The executive officers at Suntex have more than 100 years of combined experience investing in, acquiring, and managing marinas. Suntex manages 43 marina properties in the United States, leveraging its ownership and management platforms to provide leadership within the marina sector, and to acquire institutional quality marinas to enhance customer experience. Suntex prides itself on a growing reputation in the marina industry for its commitment to superior customer service, experienced marina managers and staff, conscious contributions to marina communities, and expansive enthusiasm for creating memorable experiences on the water. For more information, visit suntex.com.