NexPoint, a multibillion-dollar investment firm, has launched its first marina-focused Delaware statutory trust, NexPoint Marina DST. The portfolio includes two established marina properties, Eufaula Cove Marina in Oklahoma and Grafton Harbor in Illinois.
Based in Dallas, Texas, NexPoint operates in real estate, corporate credit and equities, and retirement solutions. The total acquisition cost is approximately $38.7 million USD, with capitalisation of $42.7 million. NexPoint said the offering is supported by ongoing boating demand, limited new development and the operational performance of both properties.
Eufaula Cove Marina is a recreational hub located on the largest lake in Oklahoma and features 459 slips and eight jet ski slips. It also includes fuel services, retail, food and beverages, as well as an RV and cabin resort.
Grafton Harbor is located along the Mississippi River near its junction with the Illinois River. The marina attracts visitors navigating the Great American Loop and is about 38 miles north of St. Louis. It has 252 slips, 25 jet ski slips, fuel services and a floating pool.
Taylor Colbert, director of real estate for NexPoint, said: “This offering reflects our focus on delivering differentiated institutional quality real estate through tax advantage structures. Marinas are supported by durable demand, high tenant retention and meaningful barriers to new supply, making them a compelling real estate category over the long term.”
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