Suntex and Centerbridge Partner to Acquire $1.25 B in New U.S. Marinas

Suntex Marina Investors, LLC, the largest standalone marina owner in the United States, and Centerbridge Partners, L.P. have established a joint venture backed by Centerbridge-affiliated funds and global institutional investors to acquire over $1.25 billion in new marinas across the United States. These funds will be used to support new acquisitions and capital improvements at newly acquired facilities, as well as for several development projects across the United States. The day-to-day operations of the joint venture will be managed by Suntex, for which it will receive customary fees. The transaction further expands Suntex’s partnership with Centerbridge, which first invested in the company in 2021. In connection with the transaction, the joint venture also closed on a revolving credit facility of up to $600 million, which was led by Wells Fargo Bank and included Bank of America, Truist Bank, BMO Bank and First Horizon Bank.

Suntex Marinas offers a world-class hospitality experience built around a community of boat owners, boat enthusiasts and those inspired by the water. The company’s foundational value is the belief that it has the responsibility to its customers to be a genuine steward of each property, as well as the markets and environments in which the company operates. Suntex is committed to building on the legacies created by the founders of its acquired properties and has a long track record of working with its marina partners to become even greater contributors to their respective communities.

Since 2021, Suntex has continued to strategically grow its portfolio of marinas in high-growth coastal and inland markets, providing a best-in-class storage, hospitality and guest experience and having a positive impact in local communities across the country.

The Suntex portfolio includes marinas located in Arizona, California, Florida, Georgia, Illinois, Iowa, Kentucky, Maryland, Missouri, New Jersey, New York, Oklahoma, Texas, Tennessee and Virginia. For more information on Suntex Marina Investors LLC, or the complete portfolio of Suntex Marinas, please contact or visit www.suntex.com.