May June 2020 Marina World

WORLD NEWS
Safe Harbor adds three
USA: Safe Harbor Marinas boosted its portfolio with the purchase of three
additional marinas via Colliers International in the first quarter of the year. It
now has nearly 100 facilities.
First to join the network was Sunset
Bay Marina (above), a full-service
marina near the city of Boston,
Massachusetts. The 2 acre (0.8ha)
family-owned property on Boston’s
desirable South Shore includes 161 wet
slips, a 250-seat restaurant and event
facility, on-site service and repair and
winter storage.
“The Folsoms purchased the marina
a little over ten years ago and rebuilt
the property to bring it up to modern
standards,” said Colliers International
managing director Andrew Cantor.
“They created a wonderful asset with
significant cash flow that was very
desirable to investors and marina
companies as potential purchasers. At
the same time, Safe Harbor is in growth
mode and this acquisition helps them
expand their portfolio in
the region.”
The second purchase
covered two marinas:
Mears Point and
Great Oak Landing on
Chesapeake Bay near
Annapolis, Maryland.
Mears Point Marina has
540 wet slips and two
restaurants and sits
within a 42-acre (17ha)
site, which includes
permission to build 211
multifamily units and a
commercial retail/office building.
“Mears Point Marina represents
a truly unique opportunity,” Cantor
emphasised. “It’s very rare to find a
property with $1 million of in-place
net operating income annually that
has approvals and utilities in place to
develop what would be the area’s first
resort-style marina community.”
Great Oak Landing (below) has
nearly 74 acres (30ha), 360 wet slips, a
28-room lodge and two restaurants.
The Colliers team marketed the two
properties separately. Interest was
expressed by a variety of prospective
buyers and offers were received from
11 groups.
Safe Harbor now owns seven
marinas on Chesapeake Bay.
Sharpening
regional
focus
MIDDLE EAST & EUROPE: Italian
company Ingemar has signed two
new exclusive licence agreements
to further develop business
opportunities in the Middle East.
Khimji Ramdas LLC (KR) will now
manufacture and market Ingemar
products in Oman. Ingemar will supply
special components and technical
assistance for production. When the
factory site is prepared and a local team
is finalised, the first reinforced concrete
pontoons, measuring 35 x 6m (115 x
20ft) will be manufactured for a fishing
fleet facility in the port of Duqum.
The agreement with KR LLC closely
follows a contract signed with Overseas
AST of Dubai, one of the most important
industrial groups in the Emirates.
Reinforced concrete modules for the
new Marina Bay in Dubai Harbour are
already being cast. Megayachts up to
60m (197ft) long will be moored directly
to the maxi floating pontoons and even
bigger yachts up to 120m (390ft) will use
special fingers and anchor with buoys
and a mooring blocks system.
Although there is significant focus
for the company on increasing market
presence in the Middle East, Ingemar
continues, as usual, to complete
projects in the Mediterranean and
Caribbean.
Recent installations in Italy include
Marina di Carrara, Porto Cala del
Forte and Cala Balbiano on the island
of Sardinia; floating pontoon systems
have been supplied for Skala Sikia,
Vougliagmeni and Marina Zea in
Greece; and second and third phases
have been completed for Lustica Bay
Marina in Montenegro.
Despite uncertainties in various
markets, the Ingemar Group enjoyed
a turnover of over €10 million in 2019.
This represented a slight growth on
2018’s figures. An important share
of investment was devoted to R&D
activities, to the study and design of
new floating products and to the search
for materials and innovative technical
solutions for their assembly, storage
and handling.
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