BlueGate Boat and RV Storage has expanded its portfolio with the acquisition of Shady Cove Resort & Marina on Old Hickory Lake in Tennessee. Located near Gallatin, northeast of Nashville, the site features 100 wet slips and caters to a mix of local residents and regional visitors.
The waterfront site offers facilities that include 88 RV pads, eight rental cabins, a restaurant, a fuel system and ship store, a swimming pool and a tiki bar. The property, previously operated by long-time owners, will undergo infrastructure improvements and operational changes under the new management.
Neil Dyer, President of BlueGate, stated, “This is a rare opportunity to acquire a true mom-and-pop marina and RV resort in one of the fastest-growing submarkets in the Southeast. We’re bringing institutional standards and infrastructure to a legacy property that has been underserved and underleveraged, unlocking tremendous value for our investors in the process.”
The company aims to enhance the resort’s existing operations, invest in marketing and reposition ancillary services such as the restaurant, fuel dock and ship store to improve revenue performance.
Old Hickory Lake, created by the U.S. Army Corps of Engineers in the 1950s, spans approximately 22,500-acre and stretches nearly 100 miles along the Cumberland River. The lake supports a wide range of recreational boating activities, such as boating, fishing, jet skiing and paddleboarding.
David Pagliughi, Director of Marina Operations at BlueGate, said, “We are excited to welcome Shady Cove Resort and Marina to our BlueGate Marinas portfolio. This is a very special place, and our team is dedicated to continuously improving the facilities while preserving the ambiance that makes Shady Cove the premier RV campground and marina resort on Old Hickory Lake. We are confident our customers will enjoy what we have in store for this incredible property.”
The financial details of the transaction have not been disclosed.
