North South Partners, a Pittsburgh-based investment group, has acquired Fox Chapel Marina and South Side Marina in its first move into the marina sector. Both facilities serve the Greater Pittsburgh boating community.
Fox Chapel Marina includes 320 wet slips and supports recreational boating and seasonal slip holders along Pittsburgh’s river system. Facilities at the marina include a self-service fuel dock, a travel lift, a membership-based pool, a riverfront bar and grill, and a commercial office and retail building on site.
South Side Marina provides 265 slips and is located within a mixed-use development. The marina includes a pump-out station and sits near established riverfront amenities, with access to bike trails, restaurants, nightlife venues, retail shops, galleries and a fitness centre.
North South Partners said operations will continue at both marinas and that it will work with marina users and local stakeholders during the ownership transition. The acquisition is the firm’s first investment in the marina sector, with plans to consider further opportunities.
Jim Scott, founder and managing partner of North South Partners, said: “These marinas have been part of the Pittsburgh boating community for decades. Our goal is to be a responsible, long-term owner, one that respects what’s already here while continuing to invest in the facilities, the teams and the overall experience for boaters.”
Scott added: “Pittsburgh’s river system is an underappreciated regional asset. These marinas are important pieces of local waterfront infrastructure, and we’re excited to build on their strong foundations over the long term.”
Images courtesy of Fox Chapel Marine.
