Blue Water Marinas Acquires Boathouse Marine Center

Bain Capital Real Estate and BlueWater Marinas, led by Joe Miller and Dunston Powell, announced the acquisition of Boathouse Marine Center (BMC), a dry-stack marina in Pompano Beach, Florida. Financial terms of the private, off-market purchase were not disclosed.

Bain Capital and BlueWater formed a strategic joint venture in 2024 to acquire and operate high-quality, storage-centric marina properties in premier boating markets along the East Coast. BMC is the second asset in the portfolio, adding to the joint venture’s acquisition of Harbor at Lemon Bay, a dry-stack marina located in the Sarasota submarket of Englewood, Florida.

Strategically positioned, BMC offers a convenient location in a dense, affluent market near the Hillsborough Inlet. Pompano Beach, a submarket of Fort Lauderdale, is a long-established boating market that benefits from heavy year-round boating traffic and features some of the strongest supply-demand imbalances in the country.

Miller, Powell and the BlueWater team have over 110 years of combined experience acquiring, developing, and operating marinas and previously successfully scaled a best-in-class portfolio as the founders and principals under a separate well-known marinas brand.