Boathouse Marine Center (BMC), a dry-stack marina located in Pompano Beach, Florida, has been acquired by Bain Capital’s Real Estate team in partnership with BlueWater Marinas, led by Joe Miller and Dunston Powell. The off-market acquisition marks the second addition to the joint venture’s growing portfolio of marina assets along the U.S. East Coast.
Boathouse Marine Center (BMC) is strategically positioned near the Hillsborough Inlet, offering convenient access in a densely populated and affluent region within the Fort Lauderdale boating market.
The marina features dry-stack storage tailored to meet the rising demand for larger vessels and all-season access. The marina also offers quarterly, semi-annual and annual dry storage for boats up to 13-metre (42-feet) in length.
Andrew Terris of Bain Capital, stated that the joint venture acquisition aligns with Bain Capital’s thematic, customer-oriented investment approach.
“The marina industry benefits from several long-term secular growth drivers, including very high structural supply barriers, increased consumer spending on experiences, and sustained demand for larger boats.”
“BMC represents a compelling opportunity to acquire an attractive asset in one of our highest conviction markets, and we look forward to building upon our partnership with the BlueWater team as we seek to assemble a best-in-class portfolio of marinas that are advantaged by high barrier-to-entry locations and BlueWater’s operational expertise.”
Joe Miller of BlueWater expressed confidence in the continued partnership. “Bain Capital is an outstanding, highly aligned partner. Their reputation precedes them, and we now understand why they are so highly regarded. We feel extremely fortunate to team with such a fine firm as we continue forward in the marina sector.”
Formed in 2018, Bain Capital Real Estate invests in hard-to-access sectors supported by long-term growth trends. The company has been executing the strategy since 2010.
Based in Charleston, South Carolina, BlueWater Marinas acquires, develops, and operates coastal marinas with dry and wet slips. The team brings expertise in marina development and management.
In 2024, Bain Capital and BlueWater formed a joint venture to acquire and manage storage-centric marina properties along the East Coast.
With Florida continuing to experience strong year-round boating traffic and rising demand for marine services, Boathouse Marine Center strengthens the joint venture’s presence in a key coastal market.
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