Suntex Ventures Acquires Glade Marina on Lake Allatoona
The Acworth marina features 267 in-water slips for boats up to 70 feet, 105 covered and uncovered dry storage spaces, and 4 private launch ramps. The property is nestled on 137 acres of natural park-like woodlands with shaded picnic areas and a variety of nature walks to enhance the boating experience.
“Suntex is thrilled to have the opportunity to participate in the Atlanta area market,” Chris Petty, Suntex Marinas President, said. “Glade Marina truly is a gem, and we have plans to immediately add 50 new slips to the project and further enhance the customer experience on Lake Allatoona.”
This transaction marks the ninth acquisition by Suntex in 2012, including Saylorville Lake Marina near Des Moines, IA, Crosswater Yacht Club and Hurst Harbor Marina on Lake Travis in Austin, TX, Bay Pointe Marina near Boston, MA, Pier 25 in the New York Harbor, and a portfolio of three marinas on Eagle Mountain Lake, in Fort Worth, TX. Suntex now owns and operates a portfolio of sixteen marinas and one marina loan with a total value of approximately $170M. The Suntex vision is to be the pre-eminent resort marina company in the world and is actively seeking premier marinas around the world for acquisition.
The Suntex team is enthusiastic regarding the opportunity to work with its tenants and guests to enhance the community and stakeholders. Financing for the transaction was provided by American Bank of Texas.
About Suntex Ventures
Suntex Ventures is a Dallas-based real estate investment fund with focus in mixed-use waterfront properties including marinas and other select assets. Through its subsidiary, Suntex Marinas, the firm provides marina and property management services throughout its portfolio. Based upon proprietary underwriting, experience, and historical success, they are focusing on high-end resort destinations.