Beavers Bend Marina, OK
The Background and Challenge
The Seller had previously worked with the Simply Marinas team as a buyer. When he was ready to sell, he contacted us to list. We were thrilled to work with the seller; he was very organized with well-prepared financials and comprehensive due diligence materials. The marina’s size, scope and focus on rental income made it attractive to key buyers in the industry. Understandably, the seller did not want the offering to be made public. Following our strict confidentiality guidelines, we presented the opportunity to select prospective buyers who we knew had the financial and operational qualifications to close on a large State Concessions/USACE lease-hold marina transaction. As is often the case with State Concessions Agreements/USACE Leases, the lease was the last step to get approved; however, the buyer closed within the contract parameters.
The Results
We had an established relationship with Topside Marinas, the buyer, at the early stages of forming their marina acquisition company. We knew that Beavers Bend Marina would be a good fit based on Topside’s acquisition criteria. The timing worked out for all parties. The marina went under contract within the first month. The buyers had in-depth experience with marina operations. The seller had developed the marina into a first-class facility. It was a good fit that resulted in a smooth and successful deal.
People are talking ...
“During the early stages of launching TopSide Marinas, we connected with Michelle at Simply Marinas with the goal of identifying marinas that fit the portfolio we are building. Her team demonstrated an impressive, in-depth knowledge of the marina market. Their support and diligence were key in facilitating a strong partnership with the Owners of Beavers Bend Marina, TopSide Marinas’ first Marina acquisition,located in Broken Bow, Oklahoma. Ween- joyed working with Simply Marinas, and we look forward to forming new partnerships with their clients in the future.” – TopSide Management Team