Bain Capital Real Estate and BlueWater Marinas have acquired Kent Narrows Boatel, a heated, Class A drystack marina in Kent Narrows, Maryland, adding the property to a growing portfolio of marina investments along the East Coast.
BlueWater said Kent Narrows Boatel, which opened in 2017, is located on Kent Island off the Chesapeake Bay Bridge and serves boaters traveling between the region’s most popular waterways and destinations. The property includes 375 slips for annual, seasonal, and winter storage, along with more than 12,000 square feet of ground-level commercial space.
The deal marks the fourth marina added to the Bain Capital Real Estate and BlueWater Marinas portfolio. BlueWater said the facility draws boaters from markets including Annapolis, Washington, D.C., Baltimore, and Philadelphia, citing the site’s location, modern infrastructure, and climate-controlled winter storage as differentiators.
Bain Capital Real Estate, formed in 2018, focuses on investments in sectors it views as supported by long-term demand trends. BlueWater, headquartered in Charleston, South Carolina, acquires, develops, and operates coastal marina assets, including dry and wet slips.
KEY QUOTES:
“Kent Narrows Boatel is an outstanding addition to our growing portfolio. The property’s offerings, location, and modern infrastructure align perfectly with our strategy of investing in high-quality marinas in premier boating markets.”
Andrew Terris, Partner, Bain Capital Real Estate
“Rob Marsh and Jody Schulz have built a phenomenal reputation for this site as its developers, owners, and operators. Today, KNB is one of the highest quality marinas in the Mid-Atlantic, attracting boaters from Annapolis, Washington, D.C., Baltimore, and Philadelphia due to its prime location, exceptional facilities, and unique climate-controlled winter storage. We look forward to working with the onsite team and further enhancing the customer experience for boaters throughout the region.”
Dunston Powell, Principal and Head of Acquisitions, BlueWater Marinas
