NexPoint has launched its second marina-focused Delaware statutory trust (DST) offering of 2026, backed by Stardust Marina in Tennessee and Kuttawa Harbor Marina in Kentucky. This follows the first offering, announced in March, which reached full subscription last month.
Located on Norris Lake in Andersonville, Tennessee, Stardust Marina covers 55 acres and has 598 slips across five floating dock structures, with new slips added through an expansion completed in June 2026. Within driving distance of Knoxville and Nashville, the marina generates income from fuel sales, food and beverage outlets, retail, lodging accommodations, RV spaces and boat rentals.
Going north to Kentucky, Kuttawa Harbor Marina sits on Lake Barkley, spanning about 25 acres and offering 409 slips to regional and visiting boaters. The site also generates income from slip rentals, fuel services, food and beverage operations, retail, boat rentals and lodging.
The NexPoint Marina II DST has a total acquisition cost of approximately $44 million USD and total capitalisation of $49 million. New Haven Property Management runs both marinas, handling guest services, fuel operations and dock services to support occupancy, revenue growth and long-term asset performance.
NexPoint said marina real estate benefits from an established recreational boating base, high customer retention and limited waterfront development opportunities, alongside environmental regulations and permitting requirements. For investors, the DST provides access to marina assets that possess these characteristics, which the company said contribute to strong occupancy and cash flow.
Taylor Colbert, managing director for NexPoint, said: “NexPoint Marina II DST reflects our strategy of acquiring high-quality real estate assets in sectors supported by favourable supply and demand dynamics. Both properties exhibit strong operating performance, diversified revenue streams and embedded expansion opportunities that we believe can support long-term value creation for investors.”
The latest offering follows NexPoint’s entry into the marina sector in March 2026, when it launched its first DST featuring Eufaula Cove Marina in Oklahoma and Grafton Harbor in Illinois. The offering had a total acquisition cost of approximately $38.7 million and total capitalisation of $42.7 million, reaching its total equity raise and full subscription in July.
