Nautical Ventures Group buys Fort Lauderdale yard

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River Bend Marine Center in Fort Lauderdale, which has served the yachting and brokerage community for nearly 40 years but has struggled through foreclosure, was purchased by Fort Lauderdale-based Nautical Ventures Group.

“This active boatyard has provided important maritime services to boaters in the area for many years,” Nautical Ventures Group CEO Roger Moore said in a statement. “We have plans to make improvements to our facilities to keep pace with the requirements of more modern vessels and to offer additional contractor services.”

River Bend provides dockage for yachts to 135 feet, dry storage to 80 feet, as well as a full complement of services, such as painting, custom cabinetry, fiberglass fabrication, and mechanical and electrical installations. Its location on the New River is easily accessible for midsize to large yachts and provides protection during storms. listed the property as bank-owned Dec. 6, 2011, and listed for $2.850 million, with a note stating that it had been placed under contract. It said the prior owner had defaulted on a $13 million note, and the property has the potential to be transformed into a megayacht facility.

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A May 2010 article in the South Florida Business Journal said the company that used to operate the River Bend Marine Center had been hit with foreclosure, the fourth against the company led by Palm Beach investor Robert V. Matthews. The property belonged to a local family, but it had a long-term lease with Palm Beach Marina Holding. Palm Beach Marina Holding obtained the lease in 1995 when it purchased it out of a foreclosure auction.

Click here for the Business Journal report.