Bain Capital Real Estate and BlueWater Marinas have acquired Kent Narrows Boatel, a heated dry stack marina in Kent Narrows, Maryland, near Annapolis. The acquisition represents the fourth marina added to the Bain Capital and BlueWater portfolio.
Kent Narrows Boatel opened in 2017 and operates on Kent Island off the Bay Bridge on the upper Chesapeake Bay. The marina offers access to surrounding waterways used for fishing, watersports and day trips. It draws boaters from Annapolis, as well as Washington, D.C., Baltimore, and Philadelphia.
The marina has 375 slips used for annual, seasonal and winter periods, alongside more than 12,000sqft (1,114 sqm) of ground-level commercial space. Climate-controlled storage is available for winter use.
Bain Capital Real Estate was formed in 2018 and operates as part of Bain Capital, which manages approximately $185 billion USD in assets. BlueWater Marinas is headquartered in Charleston, South Carolina, and owns and operates marina properties across the United States, covering both dry and wet storage facilities.
“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,” said Andrew Terris, partner at Bain Capital Real Estate.
“Rob Marsh and Jody Schulz have built a phenomenal reputation for this site as its developers, owners and operators. We look forward to working with the onsite team and further enhancing the customer experience for boaters throughout the region,” said Dunston Powell, BlueWater principal and head of acquisitions.
