Member News: Suntex Marinas' Acquisitions
By: MIASF Staff
Date posted: Jan 31, 2022 Mon
Suntex Marina Investors said it added Tahoe Keys Marina to its holdings, making the announcement in the waning days of 2021.
Located in South Lake Tahoe, Calif., the facility is the largest protected marina on the lake, with 270 slips for boats to 100 feet, indoor winter dry storage for as many as 50 vessels (and outdoor space for approximately 150 boats), a fuel dock, launch ramp and a 9,600-square-foot service shed.
“There are very few settings in the world as beautiful South Lake Tahoe, and Tahoe Keys Marina has the ability to be the crown jewel on the lake,” CEO Bryan Redmond said in a statement.
Suntex said it plans to reopen the restaurant, replace the docks and clean up the facility’s grounds, among other projects.
“This acquisition gives Suntex an opportunity to manage and eventually redevelop Tahoe Keys Marina, the premier marina on Lake Tahoe, into a world-class trophy asset,” said Suntex head of investments David Filler.
Suntex Marina Investors, owner and operator of marina properties around the U.S., announced another addition to its growing portfolio with the acquisition of Caloosa Marina located in Islamorada in the Florida Keys.
Situated on approximately 15 acres just 1.5 hours east of Key West and 2 hours south of Miami, Caloosa Cove is a destination property with a general and ship store, roadside and marina fuel, an ocean-view restaurant, and a resort with apartment-style units with ocean views from all rooms. The marina consists of approximately 32 wet slips that can accommodate vessels up to 65-feet and 88 dry slips for boats up to 34-feet. Of the dry slips approximately 76 are covered in a hurricane-rated barn. The adjoining vacation ownership resort has 30 apartment style units overlooking the ocean and marina. The Safari Bar & Grill is a historic oceanfront bar and restaurant, popular with locals and tourists, that is newly remodeled and slated to open under a new name in summer of 2022. Most of the property has been recently refurbished, with plans underway to continue the renovation.
“This purchase provides Suntex with a unique opportunity to continue to expand upon our holdings in the Florida Keys and our footprint in the South Florida market,” said David Filler, head of investments, Suntex Marinas. “The marina is a first-class facility with full amenities and fits well into our portfolio of other iconic, first-class facilities.”
“Caloosa Cove is poised to be a premier facility in one of the most desirable locations,” said Sam Chavers, senior vice president, operations, Suntex Marinas. “The existing facility is an excellent foundation to which we can add our exceptional customer service and dedicated management style, as well as investment in the level of fit and finish to build a truly incredible Florida Keys marina that guests will remember for a lifetime.”
Each year, thousands of commercial, recreational and pleasure boaters visit the Florida Keys to fish, dive, snorkel and enjoy a wealth of activities on the water, including kayaking and paddle board sports. The Florida Keys’ surrounding waters are protected by the Florida Keys National Marine Sanctuary, extending from south of Miami westward to encompass the Dry Tortugas. The Sanctuary has spectacular resources such as coral reefs, shipwrecks, seagrass beds and active fisheries. Islamorada attracts more than 680,000 visitors per year.