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Monument Marine Group buys Lighthouse Point Marina in Baltimore

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Monument Marine Group, a Baltimore-based marine service, consultancy, and design company, has purchased Lighthouse Point Marina in Baltimore. The marina, located at 2736 Lighthouse Point East, sits at the heart of Baltimore’s Inner Harbor and is at the center of seller War Horse Cities’ redevelopment plans for the Canton waterfront.

War Horse Cities, a Baltimore-based real estate development firm led by Scott Plank, had purchased the Lighthouse Point Marina property in 2017. The marina sale comes as War Horse Cities focuses work on adjacent projects in the redevelopment area and looks to Monument Marine Group to spearhead continued redevelopment of the marina property.

Dan Grovatt, Matt Putnam and Andrew Cantor of the Colliers Leisure Property Advisors team facilitated the transaction. The sales price was not disclosed.

“War Horse Cities has ambitious plans for Baltimore’s waterfront. Lighthouse Point Marina required a partner with a shared vision for the site and an affinity for the Inner Harbor,” said Dan Grovatt, Managing Director, Leisure Property Advisors, Colliers. “We are pleased to have found a partner in Monument Marine Group that has both the vision for the future and the skillset to execute the redevelopment plans for the marina.”

Lighthouse Point Marina sits on 26 acres in Canton and features 466 wet slips, a ship store, slip-holders lounge, fitness center and onsite pool and restaurant. The seller had completed a major renovation of the pool, now named Swim Club at Lighthouse Point, and added an outdoor eatery and bar to a vacant space in 2019.

The manager of Lighthouse Point Marina prior to the sale, Oasis Marinas, will remain in that role. Redevelopment plans for Lighthouse Point Marina will include significant upgrades to the facility with plans to create a first-class boating destination on the Chesapeake Bay.

Monument Marine owns four marinas in the Baltimore area and is actively growing in the marina space. The company recently purchased the Galahad Marina Portfolio, which includes three marinas located on the Chesapeake Bay — McDaniel Yacht Basin, Shelter Cove Yacht Basin and Norview Marina. Colliers’ Leisure Property Advisors also facilitated that transaction.

About Colliers

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.

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