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Suntex Marinas Acquires Loggerhead Marinas

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Suntex Marinas Acquires Loggerhead Marinas

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Old 05-05-2017 | 10:28 AM
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Default Suntex Marinas Acquires Loggerhead Marinas

Here's a little industry marina news for your Friday morning.

https://speedonthewater.com/in-the-n...erhead-marinas
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Old 05-05-2017 | 11:43 AM
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Originally Posted by Jason Johnson
Here's a little industry marina news for your Friday morning.

https://speedonthewater.com/in-the-n...erhead-marinas
That business is headquartered in Jupiter. They originally jumped into the industry with eyes on "rackominium conversions" but the market quickly met the recession so they focused on the multiple marina operation. $17+ a foot for rack fees, plus $50-100 for overwidth or T-Top options plus 6-7% sales tax made them the most expensive option out there but to their credit they were full most of the time. They also acquired troubled marinas as part of their plan (either old rusty steel buildings or poorly run marinas) so to do a lump sum sale probably netted them a nice profit after 10+ years of running marinas.
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