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Colliers arranges sale of Keystone Harbor marina to Dallas-based buyer

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Keystone Harbor, located on Keystone Lake just west of Tulsa, Oklahoma, has 244 wet slips and a 50-pad RV park

A Dallas-based family with a long history in the marina industry has purchased Keystone Harbor in Mannford, Oklahoma, for an undisclosed price. The marina is located 23 miles west of Tulsa on Keystone Lake at 1989 CrossTimbers Harbor Lane. 

Keystone Harbor is one of the newest marinas in Oklahoma with 244 wet slips and approvals to expand to over 400 wet slips. The 25-acre property also includes an RV park with 50 sites that can be expanded as well, an RV/Airstream rental business, boat rentals, and The Harbor Grill, a popular dockside restaurant.

Andrew Cantor, Matt Putnam and Dan Grovatt of the Colliers Leisure Property Advisors team represented the seller, Ron Howell, in the transaction. The buyer represented themself in the transaction.  

“We were delighted with the process that the Colliers team ran for us in the sale of Keystone.  They delivered a result that well exceeded our family’s expectations.”

- Ron Howell, principal, Keystone Harbor, LLC 

Keystone Harbor opened in 2013 and was built on land owned by the U.S. Army Corps of Engineers, leased by the city of Mannford and sublet to project’s developer through a public-private partnership.  

Keystone Harbor offers boat slips that extend from 26 feet in length to 80 feet. Slip holders are provided 24-hour security, WiFi access, private restrooms with showers, free laundry center, courtesy dock and golf carts, permitted lounge and patio space, available concierge services, trailer storage, and dock attendants. Onsite boat service and maintenance is also provided through a third-party tenant.

The market has a strong appetite for marinas and newer, high-quality facilities are particularly attractive. Keystone Harbor also has strong upside potential with approvals for a significant expansion that offers real value to the next owner, given that the marina is fully occupied with a waiting list.”

- Andrew Cantor, Managing Director, Leisure Property Advisors, Colliers

The expansion potential of the marina made Keystone very attractive for investors. The buyer intends on adding slips and RV spaces as part of its business plan to enhance the property.


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Matt Putnam

Managing Director, Leisure Property Advisors

Tampa

Matt Putnam is a founding partner and Managing Director of the Leisure Property Advisors. He specializes in the sale of marina, golf and leisure properties throughout the United States and Canada. Prior to becoming a broker, he served as the financial analyst and marketing coordinator for the National Golf and Resort Properties Group for two years. Mr. Putnam has held an active real estate license since 2006 and been in the Leisure Properties industry since 2009.

In addition to investment sales, Matt and his team focus on building advisory relationships with clients and routinely provide market research, financial analysis and management best practices at every point through the property ownership life cycle. Matt has served a wide range of clientele from single property owner-users to $100B pension funds and everything in between.

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Andrew Cantor

Managing Director, Brokerage

Atlanta

Andrew Cantor is a founding partner and Managing Director for the Leisure Property Advisors, which specializes in the brokerage of marinas and other leisure focused properties throughout the United States and Caribbean.  Andrew works closely with Matt Putnam, Dan Grovatt and Kate Meyer on the execution of the team’s marina and leisure property assignments. 

Andrew brings over 25 years of real estate transaction and advisory experience to Colliers, including over 15 years specializing in marina and golf assets.  In addition to his expertise in property sales, Andrew is recognized as an expert in marina and golf course finance.  In 2004, Mr. Cantor started Textron Financial’s marina lending program, which he grew into the largest marina lender in the nation. As a member of Textron’s Golf Finance Division, he underwrote over $600M in acquisition, refinance and construction loans on golf courses and resorts throughout North America.  Prior to Textron, he was Director of Acquisitions for KSL Fairways where he played a key role on a team that purchased eight golf facilities and the Doral Resort.  Mr. Cantor started his career at Arthur Andersen in the Real Estate Services Group.

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Dan Grovatt

Managing Director, Leisure Property Advisors

Tampa

Dan joined Colliers International Tampa Bay Florida in 2018 as a founding partner and Director of the Leisure Property Advisors.  Dan specializes in marina and leisure property investment sales across the United States and regularly assists clients with the disposition and acquisition of leisure driven real estate assets.  As part of the Leisure Property Advisors strategic asset advisory program, Mr. Grovatt also routinely provides clients with strategic asset analyses and investment planning throughout their investment cycle.

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