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Safe Harbor Marinas Purchased

Discussion in 'Marinas & Waypoints' started by olderboater, Sep 30, 2020.

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  1. olderboater, Sep 30, 2020
    #1
    olderboater

    olderboater Senior Member

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    Sun Communities Inc., a publicly traded REIT that owns or operates 426 manufactured home and RV communities purchased Safe Harbor which the majority owner had been trying to sell. Safe Harbor owns 101 Marinas.
  2. Capt J, Sep 30, 2020
    #2
    Capt J

    Capt J Senior Member

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    Guess they're trying to diversify. I've heard that RV's have been selling out this year, and all of the RV parks are completely full......
  3. 993RSR, Sep 30, 2020
    #3
    993RSR

    993RSR Senior Member

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    Safe Harbor bought Zahnisers Yachting Center in Solomons MD. about 18 months ago. The GM there was a first class, organized, high energy producer who worked hard. He was let go a week ago after 30 years.
  4. MBevins, Sep 30, 2020
    #4
    MBevins

    MBevins Senior Member

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    Unfortunately that's what these "vultures" do. Create a public company, go buy an industry (or segment of one) and do their magic to extract huge dollars. When the whole thing is sucked dry they sell the carcass.
    This GM was probably replaced by someone at half the salary with little to no benefits.
    I see this all the time.
  5. Prospective, Sep 30, 2020
    #5
    Prospective

    Prospective Senior Member

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    SH owns 80% of the marinas on Narragansett Bay including some real powerhouses like Newport Shipyard and New England Boat Works. Now I'm waiting to spot RVs parked in the storage yard hooked up to shore power.
  6. thekellers, Oct 11, 2020
    #6
    thekellers

    thekellers New Member

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    FL
    These are all very nice businesses when the economy is good and with covid.....if the economy goes and and covid is gone....watch out
  7. Oscarvan, Oct 11, 2020
    #7
    Oscarvan

    Oscarvan Senior Member

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    Chesapeake Bay
    Not completely true. We still have plenty of friends land cruising just fine. But, it does take some planning. Not unlike marinas in South Florida. And like half the boats that sold this year half those RV's are going to be for sale next year after people find out what it takes to keep them rolling and flushing. I see it right now on the Moho FB page I help run. People have no clue what they're getting into. They bought a romantic notion. Rude awakenings.....