Suntex Marina Investors said this week that it had raised more than $200 million in equity commitments and acquired the assets and personnel of Suntex Waterfront Advisors. Suntex CEO Jonny Powers said the investment capital means the company is financially poised for rapid growth. “With the completion of this capital raise, we are financially poised for rapid growth. Increasing our portfolio will not only benefit investors, but we are confident that by extending our high standards of customer service to additional marinas, the boating public will also benefit from the Suntex approach: Improve the customer experience by offering superior hospitality services that are unique in the marina industry.”
Suntex said the combination of equity commitments and third-party debt financing will provide it with more than $500 million of buying power to acquire domestic marinas. Suntex also announced that Bill Anderson, president of Westrec Marinas, has joined the Suntex Board of Directors. Anderson has more than 30 years of marina industry experience. Westrec is the largest manager of marinas in the country, with such prestigious assets as the Harbour Towne Marina in Fort Lauderdale and Holiday Marina on Lake Lanier, as well as the management of the Chicago Harbors for the City of Chicago.