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Colliers International brokers sale of Dozier’s Regatta Point Marina

Doziers

First-time marina owners have purchased the 8.7-acre property, complete with a 3,500-square-foot clubhouse and 114 wet slips

Colliers International brokers sale of Dozier's Regatta Point Marina

RICHMOND, Va. – (November 4, 2019) – Colliers International’s Leisure Property Advisors team has brokered the sale of Dozier’s Regatta Point Marina, located at the mouth of Broad Creek near the intersection of the Rappahannock River and Chesapeake Bay in Deltaville, Virginia, 70 miles east of Richmond.

The property was purchased by first-time marina owners Don Pringle and Sandy Bouvier, a husband-and-wife duo from Connecticut. The purchase price was not disclosed.

Andrew Cantor, Dan Grovatt and Matt Putnam of Colliers International’s Leisure Property Advisors team represented both the buyer and the seller, the Dozier family. This was the third and final marina to be sold by the Doziers following the passing of patriarch Jack Dozier. The family is well-known in the marina industry, with long-standing ties to the Deltaville area.

“The Dozier family was looking for a buyer who would be a steward to the asset that has been in their family for many years,” said Dan Grovatt, director for Colliers International’s Leisure Property Advisors. “We had a number of offers, but it was Don and Sandy that gave the family confidence that their legacy would live-on through their vision for the property.” 

Located at 137 Neptune Lane, Dozier’s Regatta Point Marina sits on 8.7 acres and is home to a clubhouse, swimming pool and bathhouse, 85 wet slips and 1,000 linear feet of side-tie dockage for boats up to 120 feet. Plans are currently underway to add a short-term rental cottage to the property, as well as additional amenities for seasonal clientele and visitors. The owners are also interested in using the clubhouse for weddings, private events and corporate functions.

“Being that Don and Sandy are first-time marina owners, there were a number of nuances that we helped them through during the process,” said Andrew Cantor, founding partner and managing director for Colliers International’s Leisure Property Advisors. “That being said, this is a great opportunity for a first-time buyer. It’s an excellent facility that is focused almost exclusively on storage and attracts a number of high-quality clients and high-end boats."

Pringle and Bouvier plan to relocate to Virginia later this year. They will continue in their current careers in IT and healthcare, respectively, and manage the business side of the marina alongside the current marina manager. The marina will retain the Dozier’s Regatta Point Marina name for the time being, but will transition to Regatta Point Yachting Center in the coming years.

 

About Colliers International 

Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, has delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.

 


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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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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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