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VIP Marinas enters Florida market with Anclote Village Marina purchase

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Growth in the Pasco County region attracted interest in the marina from buyers, leading to multiple offers on Holiday marina

VIP Marinas enters Florida market with Anclote Village Marina purchase

HOLIDAY, Fla. – (Oct. 9, 2019) – Anclote Village Marina, located on the Anclote River in the Tampa Bay area city of Holiday, has sold to Austin, Texas-based VIP Marinas. This is the marina owner-operator’s first location in Florida.

Colliers International’s Leisure Property Advisors team, led by Andrew Cantor, Managing Director; Matt Putnam, Managing Director; and Dan Grovatt, Director, represented both the buyer and the seller, St. Joseph’s Sound Investments LLC, in the transaction.

The property is located on 3.23 acres near the mouth of the Anclote River. As the only marina on the river outside of the no-wake zone, Anclote Village Marina provides boaters in the Pasco County area the fastest local access to the Gulf of Mexico. The marina features 25 wet slips, 195 dry racks, a fuel dock, a dockside bait shop and a waterfront restaurant, Miss Vicki’s on the River.

Buyer VIP Marinas owns and operates eight marinas in Texas and Oklahoma.

“The buyer had spent a lot of time boating from Sarasota up to Tampa and had been looking for the right property in Florida,” Putnam said. “This property has the advantages of in-place cash flow and accessibility, both for him coming from Texas and his boaters being able to reach popular destinations like Caledesi Island, Honeymoon Island and Anclote Key. In addition, he felt this location is going to significantly benefit over the next few years from the growth occurring along the State Road 54 corridor in Pasco County.”

The marketing process generated broad interest in only two months and culminated with 10 offers that included regional marina investors, large national companies, local investors and first-time marina buyers.

“This kind of heightened interest from investors represents a trend in the market,” Grovatt said. “Marinas continue to gain significant investor attention as yields compress in core commercial real estate asset types.”

Anclote Village Marina is located at 1029 Baillies Bluff Road in Holiday.

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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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

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