Monopoly marina ownership makes disabled veteran homeless

[GordMay]

The Gulfstarcapt is dealing with a monster corporation, that has been aggressively acquiring marina properties, since it's inception..
Safe Harbor Marinas, based in Dallas, a company formed in 2015, and backed by American Infrastructure MLP Funds (AIM), is the nation's largest owner and operator of marinas.
In 2020, Sun Communities (SUI), a real estate investment trust involved in manufactured housing and recreational vehicle communities, entered into a definitive merger agreement to acquire Safe Harbor Marinas [$2.11 billion].
Safe Harbor’s full operating team, led by Baxter Underwood, will run Safe Harbor as a subsidiary, independently from Sun’s manufactured home and recreational vehicle community business.

[Uncle Bob]

Monolopies sadly only ever benefit those that own the monolopy, regardless of the industry in which they exist.
Wish you the best of luck.

[Jammer]

While it's just speculation on my part, I believe it is only a matter of time before they purchase the marina where I keep my boat. It's a family-run marina with no clear succession plan.


I am curious about Safe Harbor and their usual management practices. Do they invest in marinas they purchase and make capital improvements? Do they expand the slip count? Are they operating repair services as well as just slips?


I note that the OP is new to the forum. I am unsure how to respond to his concerns regarding a nearly 40-year old motor vessel. While I am sympathetic to the abrupt and unexpected change in circumstances he faces, I note that many 40 year old motor yachts have runout engines, are no longer capable of safe navigation under their own power, and are beyond economic repair. I do not believe that the boating community is well served by the conversion of such vessels to stationary living quarters.

[S/V Illusion]

There are toughly 4000 marinas in the US, only 5% are owned by the top 5 operators. Stated differently, you have a 95% chance at finding what you want rather than complaining about it.
Assuming the “Dallas based” company to which the OP referred is Safe Harbors, they were bought out by a much larger company, Sun Communities, so their 100 marinas nationally will only grow. For those who travel by RV, they are already familiar with Sun Communities.

[Iduna]

Originally Posted by Jammer

While it's just speculation on my part, I believe it is only a matter of time before they purchase the marina where I keep my boat. It's a family-run marina with no clear succession plan.


I am curious about Safe Harbor and their usual management practices. Do they invest in marinas they purchase and make capital improvements? Do they expand the slip count? Are they operating repair services as well as just slips?


I note that the OP is new to the forum. I am unsure how to respond to his concerns regarding a nearly 40-year old motor vessel. While I am sympathetic to the abrupt and unexpected change in circumstances he faces, I note that many 40 year old motor yachts have runout engines, are no longer capable of safe navigation under their own power, and are beyond economic repair. I do not believe that the boating community is well served by the conversion of such vessels to stationary living quarters.

All I know is that Safe Harbor bought a marina near me and changed the insurance requirements where I will no longer be keeping my boat there.

[Wallaby]

Originally Posted by Orion Jim

There are 16 marinas within 25 miles of Beaufort. Perhaps you have far more options than you are aware of.

https://www.waterwayguide.com/direct...olina/beaufort

That mega-marina company makes me sick--all trendy membership crap, with a corporate monster in charge, squeezing out every last dime. Last I heard, they were taken over last year by Sun Communities INC, a REIT in manufactured housing/RV communities. That tells you a lot, right there. I expect they will continue to expand until the next economic turn down--then, living on borrowed capital at low interest rates (thank you, FED) will be their downfall.



BTW, I am in the same area, at Ladys Island Marina. As marinas go, it is arguably the best in the area. It is relatively small, well protected from most storms, close to shops etc, and with useful facilities for boaters--e.g. a workshop. I've used it as a home base since 2009--friendly people and great access to head to the Bahamas, and return.

The new owner is actively investing and improving, with much still to be done, but what a change from the previous out-of-state owner! He listens and does what he can to fix issues, without having the mega-company's access to money.



I am told liveaboards are limited in number. That said, I would still drive over from Port Royal and have a chat with the owner. He might even have a waiting list--I don't know.

[Captain Scott]

Originally Posted by C420sailor

And how do they plan on enforcing this?

Spend a night or two a week on the hook.

Fight these ********. They bought out my local marina too. Did a few things to make it look more boujee, then cranked the prices up to 11. Lipstick on a pig for top dollar.

If all else fails, go to the media. Companies like this hate bad press, especially when it involves disabled individuals.

YES! Do the media rounds. Give the straight story and public opinion may or may not come to your side. I helped my dad do this when he sold a fair amount of land to a Conservancy. They stopped paying him and said, "Sue us". instead we went to the press and the court of public opinion. They paid up. So good luck.

[Wallaby]

Originally Posted by Jammer

I note that the OP is new to the forum. I am unsure how to respond to his concerns regarding a nearly 40-year old motor vessel. While I am sympathetic to the abrupt and unexpected change in circumstances he faces, I note that many 40 year old motor yachts have runout engines, are no longer capable of safe navigation under their own power, and are beyond economic repair. I do not believe that the boating community is well served by the conversion of such vessels to stationary living quarters.

Is this comment based on facts pertaining to the OP, because if it isn't, it strikes me as unnecessarily derogatory. Docked beside me is 1964 41ft Hatteras. It is 57 years old. It is capable of safe navigation under its own power with two 300HP Cummins with 400 hours, and has a fully restored interior.

[ShoreFun]

Interesting, so which party do you regularly vote for?

One party wants to let businesses do what they want and the other is trying to keep the interests of the people in mind.

Keep in mind the biggest threat to your hard earned cash is not spending and taxation by the gov. It is lack of regulation and monopolies that can take larger portions of your free money. Last time I check you freedom is tightly tied with how much excess cash you have on hand. If corporations had their way they would take as much cash as they could out of your pocket while reducing your wages. Historically that is what all major companies try to do.

BTW, places like marinas and trailer parks are considered cash cows. Someone I knew owned 2 of them and he lived very well. They also are a faster tax write off then buildings (trailer parks, I dont know about marinas). So they are good tax write offs and they make extra cash. FWIW, Sun Industries pays a good dividend.

Keep in mind all the pet Dr's offices are being bought out by 2 companies who also want you to buy pet insurance. They have been jacking prices. Same goes for eye wear and eye Dr offices. The key is to be able to get everyone in a subscription so you are constantly giving them money.

Notice the current administation is going to make it so you will be able to goto thrid parties to fix your boat engines. Currently some require you to go to the dealer and use their computers and their parts. Where the previous administation was allowing companies to increase their monopolies and prices you pay for stuff.

Anyway things to consider when you vote.

[Cadence]

Is there any marina assoc. with the Corps. in any way? Being a navy vet. it my be worth a look.

[Wallaby]

Originally Posted by ShoreFun

Interesting, so which party do you regularly vote for?

Why politicize this thread?



Independent of political party (and they both stink IMHO), we still get to vote with our feet and our wallets, making us responsible for economic outcomes. Don't like mega-marinas, don't go/stay there. Occupancy rates are crucial in this business. Given the fixed/variable cost structure, I suspect it does not take much for income to fall below the breakeven point.


From a market perspective, I think the liveaboard boater is a growing market. Post Covid, people are abandoning city/officework lifestyle and moving onto boats--not all of them straight off the production line. Prices are high as a result. Older boats are more affordable, so we'll see them proliferate. A savvy marina owner will follow the trend...



Still don't like the mega-marina solution? Feel free to use social media and make others aware of the issues.

[Tortuga's Lie]

Originally Posted by Cadence

Is there any marina assoc. with the Corps. in any way? Being a navy vet. it my be worth a look.

This is a good idea, many Navy bases have a recreational marina associated with their bases, allowing service members to keep their boats there. Do not know if they allow liveaboards though.

[Lake-Effect]

Originally Posted by Wallaby

Is this comment based on facts pertaining to the OP, because if it isn't, it strikes me as unnecessarily derogatory.

CF has had lots of hit and run complaint posts from first-timers, so a little caution is warranted, together with sympathy and an honest desire to help.

[C420sailor]

I miss the old days where you got to know the OWNER, could DIY just about anything you want in the yard as long as you clean up after yourself, liveaboards weren’t a problem as long as you were quiet, clean, and polite.

[jfischgrund]

We all know what company everyone is referring to. They are high-handed, arbitrary, and dishonest. They seem to pick local managers who are known for being obnoxious. Go into their marinas and all you see are unhappy employees. This kind of corporate takeover is terrible for all boaters, liveaboards, sailors, power-boaters -- everyone. In Rhode Island, they are steamrollering many previously family-owned, mariner-friendly boatyards and marinas. Ugh!