Partnership Buys Missouri-based Kings River MarinaPublished on November 9, 2023
Barry and Gail Bierenbaum and Mongo Holdings announce their continued partnership with Keel Funds in the acquisition of Kings River Marina. Mongo Holdings, through its wholly owned subsidiary, Taylor Mercantile, purchased the 2.7-acre marina located on Table Rock Lake in Shell Knob, Missouri.
Table Rock Lake is a 52,000-acre lake with 750 miles of shoreline stretching from southern Missouri and into northern Arkansas. Kings River Marina is located approximately five miles north of the Arkansas state line, 20 miles west of Branson, Missouri, and about 45 miles south of Springfield Missouri.
The facility includes a 3,200-square-foot restaurant and 192 wet slips for boat storage accommodating vessels up to 60 feet. The wet slips are currently completely full and there is a lengthy waiting list should any become available. Planned improvements for the facility include an immediate expansion of our boat storage capacity via the construction of a new, fully covered wet dock with boat lift capacity, the installation of new boat lifts throughout the existing marina storage docks, as well and an expansion of the current rental boat and PWC fleet, among other projects.
Over the past two years, Mongo Holdings has become a general partner with Keel Funds, an Atlanta-based private equity firm focused on the acquisition of first-in-class marinas. The partnership was officially established in August of 2022 with the joint acquisition of Maryland Marina in Middle River, Maryland. Plans are to purchase another marina by the end of 2023.
Keel Funds is led by Bill Boden and Chris Carlton, who collectively have over 40 years of experience in real estate investment and development. In conjunction with the strong and experienced existing on-site management team inherited with the purchase, Keel Funds expects to begin work on various growth initiatives and will continue to do so over the next several seasons.