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Monument Marine Group buys Lighthouse Point Marina in Baltimore

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Monument will partner with developer War Horse Cities on executing redevelopment project for Lighthouse Point Marina and the Inner Harbor

Monument Marine Group, a Baltimore-based marine service, consultancy, and design company, has purchased Lighthouse Point Marina in Baltimore. The marina, located at 2736 Lighthouse Point East, sits at the heart of Baltimore’s Inner Harbor and is at the center of seller War Horse Cities’ redevelopment plans for the Canton waterfront.

War Horse Cities, a Baltimore-based real estate development firm led by Scott Plank, had purchased the Lighthouse Point Marina property in 2017. The marina sale comes as War Horse Cities focuses work on adjacent projects in the redevelopment area and looks to Monument Marine Group to spearhead continued redevelopment of the marina property.

Dan Grovatt, Matt Putnam and Andrew Cantor of the Colliers Leisure Property Advisors team facilitated the transaction. The sales price was not disclosed.

War Horse Cities has ambitious plans for Baltimore’s waterfront. Lighthouse Point Marina required a partner with a shared vision for the site and an affinity for the Inner Harbor. We are pleased to have found a partner in Monument Marine Group that has both the vision for the future and the skillset to execute the redevelopment plans for the marina.”

- Dan Grovatt, Managing Director, Leisure Property Advisors, Colliers

Lighthouse Point Marina sits on 26 acres in Canton and features 466 wet slips, a ship store, slip-holders lounge, fitness center and onsite pool and restaurant. The seller had completed a major renovation of the pool, now named Swim Club at Lighthouse Point, and added an outdoor eatery and bar to a vacant space in 2019.

The manager of Lighthouse Point Marina prior to the sale, Oasis Marinas, will remain in that role. Redevelopment plans for Lighthouse Point Marina will include significant upgrades to the facility with plans to create a first-class boating destination on the Chesapeake Bay.

Monument Marine owns four marinas in the Baltimore area and is actively growing in the marina space. The company recently purchased the Galahad Marina Portfolio, which includes three marinas located on the Chesapeake Bay - McDaniel Yacht Basin, Shelter Cove Yacht Basin and Norview Marina. Colliers’ Leisure Property Advisors also facilitated that transaction.

 
 

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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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