Atlantic Marina Holdings purchased Tierra Verde Marina Resort in Tierra Verde, Fla., a facility that includes 400 dry slips, 115 wet slips and 10,000 square feet of marine retail and resort amenities.
Based in Charleston, S.C., Atlantic Marina Holdings owns, develops and operates marinas and Tierra Verde is the third property the company has acquired in the last two years.
“We are pleased to add the newly redeveloped Tierra Verde Marina Resort to our growing portfolio of Class A Marina properties,” Atlantic Marina Holdings principal Joe Miller said in a statement. “Our focus is on quality of real estate, not quantity. The purchase of Tierra Verde Marina Resort is in keeping with our strategic goal of investing in high barrier to entry ‘core” markets in Florida and the Southeast. This project is on unique real estate and the marina has just been rebuilt from the ground up, with an excellent physical plant and attractive amenities, including the Island Grill and Raw Bar restaurant, a new pool and tiki bar and a future boutique hotel.”
Previous Atlantic Marina Holdings acquisitions include PGA Marina in Palm Beach Gardens and Fort Lauderdale Boatyard and Marina in Fort Lauderdale. Both projects are redevelopments and are slated for completion in 2018. When they are finished, including Tierra Verde, Atlantic Marina Holdings will operate nearly 3,000 slips.