Southern Marinas Acquires Bay Point Resort And MarinaPublished on July 27, 2020
Southern Marinas Holdings, LLC, a partnership between a New York-based private investment firm and Southern Marinas, announced the purchase of Bay Point Resort and Marina in Marblehead, Ohio, on July 8. This acquisition brings the growing Southern Marinas’ portfolio total to 11 properties.
Bay Point Resort and Marina is a 227-acre recreational site with direct access to Lake Erie and Sandusky Bay. For more than 75 years, Bay Point has provided amenities and services, attracting members from all the major cities in Ohio, as well as the neighboring states of Pennsylvania, Indiana, Illinois, and Michigan. The Resort offers summer and winter boat storage, including 660 wet slips and 145 Jet Ski docks, 175 scenic RV sites, a beach club with a casual lakeside grill, a resort pool, a well-provisioned ship’s store, and a 9-hole executive golf course. The Marina was recently honored by being designated Ohio’s first, platinum-certified clean marina.
Since 2006, Bay Point has been owned by Bay Point Acquisition, LLC, a group led by real estate developer John T. Murphy, who had the collective vision to transform this property into a residential beachfront marina and resort. “Since our expertise and primary focus was developing the project, we have been looking to transition the recreational and operational components of the project to a group whose principal focus is both marina and resort operations. We have found such a group in Southern Marinas,” said Charlie Papy, manager, Bay Point Acquisition, LLC.
“We are very fortunate that Charlie Papy and his partners have selected Southern Marinas to be the new stewards of Bay Point,” said Gary Rosmarin, principal with Southern Marinas. “Bay Point Resort and Marina is the perfect addition to our growing portfolio of properties that will expand our footprint into the Great Lakes market.”
This purchase will mark Southern Marinas’ fifth acquisition in 2020, as the company continues to build a strong portfolio of recreation destinations located across the country.