Safe Harbor Marinas acquired Lauderdale Marine Center in a reported $340 million deal, the company said in a statement.
The acquisition adds another South Florida facility that caters to the superyacht industry to Safe Harbor’s portfolio of properties. Earlier this year, Safe Harbor added Rybovich’s two marina and service locations in Palm Beach County, Fla.
Lauderdale Marine Center offers extensive repair and refit services and is a Foreign Trade Zone — an advantage to brokers and buyers, as foreign-flagged yachts can be shown for sale within the FTZ.
“We are excited to bring Lauderdale Marine Center and their talented team into the Safe Harbor family,” CEO Baxter Underwood said in the statement. “LMC is now connected to our network of superyacht facilities at West Palm Beach, Riviera Beach, Old Port Cove, Charleston City and Newport Shipyard, and will help us further grow along the East Coast.”
Last September, real estate investment trust Sun Communities acquired Safe Harbor Marinas for $2.11 billion.