Marina sales completed in Texas and Tennessee
Austin Cameron, a North Texas real estate entrepreneur who owns AC Properties, AC storage, and other businesses, acquired bankrupt VIP Volente Marina on Lake Travis, which is near Austin, Tex., for an undisclosed amount, according to a Jan. 6 Austin Business Journal report.
VIP Volente Marina is a 148-slip marina for small and large boats. It also has a parking lot, gas fuel dock, convenience store, and a fleet of boat rentals. Cameron said that he plans to upgrade the marina’s offerings and amenities and renovate certain parts. He expects all this work to be completed by the summer.
In Tennessee, Wisdom Dock Marina on Dale Hollows Lake was sold to Jim Figuardo, who also owns Grider Hill Dock on nearby Lake Cumberland, for slightly more than $6 million. Figuardo said that he expects to take some immediate steps to expand the marina by adding new docks and slips.
The previous owners of Wisdom Dock Marina, Paul and Judy Boggs, had owned the facility for 28 years and were planning to retire. They are delighted with the sale price for the full-service marina that has 175 slips, as well as a houseboat, pontoon, and toy rental program, and much more, according to Polly Fuqua, who acted as the marina business broker for this transaction.
Date: January 18, 2010
Categories: Industry News