Lauderdale Marine Center Joins Safe Harbor Marinas
DALLAS, May 4, 2021 /PRNewswire/ -- We are pleased to announce that Safe Harbor Marinas has acquired Lauderdale Marine Center ("LMC"), a premier US destination and service provider for the superyacht industry in Ft. Lauderdale, Florida. The transaction, valued at approximately $340 million, closed on May 3, 2021.
In 1997, LMC brought a new vision to Broward County. That vision was to create the world's premier superyacht facility right in the heart of Fort Lauderdale. Through years of investment in wet slip and dry storage infrastructure, the team developed world-class operational capacity and honed a unique marketplace model. Today, LMC has a total of 106 slips, employs more than 100 full-time professionals and is home to hundreds of marine industry tenants and contractors.
"We are excited to bring Lauderdale Marine Center and their talented team into the Safe Harbor family," said Baxter Underwood, CEO of Safe Harbor. "LMC is now connected to our network of superyacht facilities at West Palm Beach, Riviera Beach, Old Port Cove, Charleston City, and Newport Shipyard and will help us further grow along the East Coast by providing a world class 60-acre service and repair facility for our members."
About Safe Harbor Marinas
Safe Harbor Marinas is the largest owner and operator of marinas in the world. Based in Dallas, Texas, the company is dedicated to providing exceptional service and memorable experiences to the global boating community. With the closing of this transaction, Safe Harbor now owns and operates more than 115 marinas in 22 states.
For more visit www.shmarinas.com
Contact [email protected]
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Cautionary statement regarding forward-looking statements
This press release contains various "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and Sun Communities, Inc. and/or its affiliates ("Sun") intend that such forward-looking statements will be subject to the safe harbors created thereby. Forward-looking statements can be identified by words such as "will," "may," "could," "expect," "anticipate," "believes," "intends," "should," "plans," "estimates," "approximate," "guidance," and similar expressions in this press release that predict or indicate future events and trends and that do not report historical matters.
These forward-looking statements reflect Sun's current views with respect to future events and financial performance, but involve known and unknown risks, uncertainties, and other factors, some of which are beyond its control. These risks, uncertainties, and other factors may cause the actual results to be materially different from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include the effects of the COVID-19 pandemic and related stay-at-home orders, quarantine policies and restrictions on travel, trade and business operations; national, regional and local economic climates; difficulties in the ability to evaluate, finance, complete and integrate acquisitions, developments and expansions successfully; the ability to maintain rental rates and occupancy levels; competitive market forces; the performance of recent acquisitions; changes in market rates of interest; changes in foreign currency exchange rates; the ability of purchasers boats to obtain financing; and the level of repossessions by boat lenders. Further details of potential risks that may affect Sun are described in its periodic reports filed with the U.S. Securities and Exchange Commission, including in the "Risk Factors" sections of its Annual Report on Form 10-K for the year ended December 31, 2019 and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020 and September 30, 2020.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements included in this press release, whether as a result of new information, future events, changes in its expectations or otherwise, except as required by law.
Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. All written and oral forward-looking statements attributable to the Company or persons acting on its behalf are qualified in their entirety by these cautionary statements.
SOURCE Safe Harbor Marinas
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