Bain Capital and BlueWater Marinas Acquire Kent Narrows Boatel

BlueWater Marinas (“BlueWater”) today announced the acquisition of Kent Narrows Boatel (“KNB”), a Class-A, heated drystack marina located just outside of Annapolis in Kent Narrows, MD. KNB will be the fourth marina added to the Bain Capital/BlueWater portfolio.

KNB opened in 2017 and has since become a cornerstone of the local boating community, given its commitment to quality operations and an impeccable physical plant. Situated off the Bay Bridge on the upper Chesapeake Bay and surrounded by popular waterways, the Boatel is conveniently located on Kent Island and serves as a premier access point to many of the Chesapeake Bay’s most sought-after waterways, with nearby waterfront dining, in-shore fishing, watersports, and popular day-trip destinations. The property offers 375 slips for annual, seasonal, and winter storage and boasts more than 12,000 square feet of ground-level commercial space.

Andrew Terris, a Partner at Bain Capital Real Estate, stated, “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.”

Dunston Powell, BlueWater Principal and Head of Acquisitions, added, “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.”

About Bain Capital Real Estate

Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested and committed over $9 billion of equity across multiple sectors. Bain Capital Real Estate focuses on assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. Bain Capital is one of the world’s leading private investment firms with approximately $185 billion of assets under management. For more information, visit https://www.baincapitalrealestate.com/.

About BlueWater Marinas

Headquartered in Charleston, South Carolina, BlueWater Marinas will acquire, develop and operate coastal marina assets, including both dry and wet slips. Established by former executives and key team members of PORT 32 Marinas and Atlantic Marina Holdings, alongside several marina industry top performers, BlueWater Marinas brings unparalleled expertise in marina development and management, delivering exceptional service to its customers. With a proven track record, BlueWater Marinas will build and operate a distinguished portfolio of Class A marina assets in prime markets along the East Coast. For more information, please visit https://bw-marinas.com.

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