SVN Marinas has announced the sale of Skyline Marine Center, a full-service marina in Anacortes, Washington, to Seattle-based real estate investment firm GT Capital. Financial terms were not disclosed.

Located on Fidalgo Island near the San Juan Islands, Skyline Marine Center serves recreational boaters, cruising yachts, anglers and vessels travelling through Puget Sound, the Gulf Islands and the Inside Passage to Alaska. The 15-acre marina includes 67 protected wet slips, over 300 dry storage spaces, a 94,000sqft (8,733sqm) indoor boat storage warehouse, marine service facilities, commercial suites and a fuel dock.

The acquisition adds to GT Capital’s investments across commercial, multifamily and marina properties, alongside existing holdings such as Dagmars Marina in Everett and Washington Boat Center in Seattle.

David Kendall, CCIM, managing director of SVN Marinas, said the transaction highlights ongoing demand for marine assets in supply-constrained markets, adding that: “Anacortes is one of the Pacific Northwest’s premier boating gateways, and Skyline’s strategic location, substantial infrastructure and diversified operations created a compelling long-term investment opportunity. With its regional expertise and growing marine portfolio, GT Capital is well positioned to build upon Skyline’s legacy and guide the property through its next chapter.”

SVN Marinas exclusively represented the seller and procured the buyer, with Brian Resendez, CCIM, senior vice president at SVN | Bluestone, serving as the Washington broker of record.

Josh Sheppard, senior advisor at SVN Marinas, said: “Every marina transaction is unique because every ownership group has different goals. Our role is to understand those objectives, identify qualified buyers, protect confidentiality and minimise disruption to the business throughout the process. Skyline Marine Center is a strong example of how specialised marina brokerage expertise and industry relationships can deliver successful results.”

According to the brokerage, existing marina properties continue to attract investor interest as new developments face constraints including waterfront scarcity, regulatory requirements and construction costs. In the Pacific Northwest, Anacortes and the wider San Juan Islands and Puget Sound region remain areas of activity for boaters, marina operators and investors seeking waterfront real estate opportunities.

Images courtesy of SVN Marinas.