Diligence can provide a marina business buyer with the assurance that they are buying what they thought they were buying.
Buying a marina business can be rewarding, but buying the right one that will maximize your investment is the challenge.
In finance, due diligence is the process of research and analysis that takes place in advance of an investment in order to determine the value of the subject of the due diligence or whether there are any “skeletons in the closet”. In the banking industry it refers to the responsibility of bank directors and officers to act in a prudent manner in evaluating credit applications
Each marina is unique with respect to the location, design, market, amenities and the operation. Marinas are more likely to be damaged by the environment than any other form of real estate. A properly performed Due Diligence provides a marina buyers, investors and lenders with valuable knowledge and exposes any discrepancies in the financials, physical condition of the facility, and any environmental problems
OUR DUE DILIGENCE TEAM:
Richard Graves: Operations and Marketing
Richard Graves has been involved in the Marina and Hospitality Industry for over 35 years. He has held Senior Executive positions with International and Domestic Hotels and Marina Management Companies. His introduction to marinas came through his position as the VP of Business Development from 1984 through 1991 for the renowned Bahia Mar Resort & Yachting Center. As a consultant he has been involved in the design and management of many marinas and related projects. Stiles Development Corporation retained Richard to oversee the construction and management of Sunrise Harbor; the first Marina in the United States designed specifically to cater exclusively to Mega Yachts. He currently holds a seat on Fort Lauderdale’s Marina Advisory Board. Further details on his background may be found at www.rgassoc.com.
George Register PE: Engineer – Professional Engineer, Florida #20785
George has extensive experience in engineering and a Master’s degree in Coastal and Oceanographic Engineering. His career has spanned more than 35 years. During that time he has been a principal in several successful engineering firms specializing in civil, mechanical and electrical, coastal and oceanographic engineering, and marina design and construction. He has been responsible for the design and permitting of over 2,000 marina slips at sites throughout Florida and the Bahamas. He has developed specialized expertise in in waterfront community development and redevelopment. Mr. Register’s background in construction and construction management has enhanced his ability to implement budget and cost controls during the design and construction process of many large civil engineering projects. Further details on his background and experience is available at www.register-marine.com
Sandy Walters – Environmental and Planning Due Diligence
Sandy Walters has more than 30 years of professional experience. Sandy has successfully permitted projects ranging from single family homes to major marinas roadway and airport projects, working with all regulatory agencies; has extensive experience in review and development of comprehensive plans and land development regulations, She serves on the South Florida Regional Planning Council, appointed by governors Bush, Cristi and Scott, twice as chair; serves on EPA’s Water Quality Steering Committee for the Florida Keys; and served from 2000 to 2004 as a Governor’s appointee on Florida’s Acquisition and Restoration Council, which oversees purchase and management of State conservation lands. Further details on her background may be found on www.swcinc.net