Sardis Lake Marina, MS
The Background and Challenge
The Simply Marinas team sold Sardis Lake Marina twice. For the first sale, in 2015, we represented Skipper Buds as the seller and brought a qualified exclusive buyer before we went to market, for a quick closing. The new owner was able to secure expansion approval totaling 400 slips and created tremendous upside. In both sales, Simply Marinas represented both the seller and the buyer. With the second sale in 2020, the seller, whose primary business is aviation, wanted to cash out and allocate sale proceeds to their primary business within a short time period. For the 2020 sale, Simply Marinas brought multiple buyers who were all a part of the Simply Marinas Network. Buyers visited the marina even during the Pandemic. Our team ensured the selection of a buyer that has a high probability of closing. The seller wanted a shorter due diligence with no financing contingencies.
The Results
We identified a cash buyer within our network, whose criteria and timeline were the perfect fit. He had quick due diligence and a closing timeline. Our advisors provided the buyer with strategic consultations as a first-time marina buyer including valuation, financial analysis, and ensuring a comprehensive due diligence process. The sellers were well prepared and very responsive in assisting during the due diligence period as well as during the operational transition to the new owner.
People are talking ...
“We own and manage multiple marinas. We have looked nationwide for the right marina broker and selected Simply Marinas due to their success and marketing advantage and presence everywhere in the industry. They brought us a buyer within two weeks before it went on the market. We listed and sold two marinas with them.” - Skipper Buds