TPG Hotels, Resorts & Marina acquires Conanicut Marina and Taylor Point Boat Yard
TPG Hotels, Resorts & Marinas today announced the acquisition of Conanicut Marina and Taylor Point Boat Yard, both located in Jamestown, RI.
“Conanicut Marina and Taylor Point Boatyard are significant additions to our growing portfolio of marinas and are prime examples of the types of properties we are looking to acquire,” said Robert Leven, Director of Investments at TPG Hotels, Resorts and Marinas in a press release provided to What’s New Newp. “TPG Marinas is now present on the East and West passages of Jamestown with a world-class marine services facility centrally located to provide boaters with a full range of integrated marine services. ”
According to TPG, the Conanicut Marina has over 4,500 linear feet of dockage for boats up to 225 feet in length and 150 moorings. “It’s a very popular spot for seasonal and passing boaters, and the slides are operating at 100% occupancy. Taylor Point Boat Yard is a 5 acre site that provides high quality service, repairs and winter storage for up to 220 boats, and serves as private parking for the Marina ”.
“It was time to pass the torch to someone else, but selling to someone who would still be part of the community was just as important,” said Bill Munger, former owner and operator of properties for over 47 years. year. “It took a while to sum it all up. The chemistry had to be good, and this business is primarily in the hospitality industry. They (TPG) are good people.
Terms of the contract are not disclosed.
TPG has been an active purchaser of marinas and nautical hospitality assets for the past 18 months. Recent acquisitions include Dutch Harbor Boat Yard in Jamestown, RI, Champlin’s Marina and Resort on Block Island, Danfords Resort, Marina and Spa in Port Jefferson, NY, and Mill Warf Marina and Scituate Harbor Marina, both located in Scituate, MA.
The TPG Hotels, Resorts & Marinas portfolio includes nearly 300 independent boutique hotels and marinas comprising more than 43,000 rooms in 36 states.