Colliers brokers sale of Harbor Lights Marina in Rhode Island

Monument Marine Group purchased the 202-slip marina, events facility and golf course in Warwick Cove.
By: Colliers
 
WARWICK, R.I. - June 20, 2023 - PRLog -- Monument Marine Group, a Mid Atlantic-based investment firm that owns marinas on the East Coast, has purchased Harbor Lights Marina for an undisclosed price. The marina is located at 150 Gray Street in Warwick, R.I.

Andrew Cantor, Dan Grovatt, and Matt Putnam of Colliers Leisure Property Advisors represented the seller, Harbor View Holding Co., LLC, an entity owned by the Noel family.

"This is the buyer's first acquisition in New England and a great addition to their growing marina portfolio," said Cantor, senior vice president of Colliers. "Harbor Lights Marina is a very large, unique property, and the sellers invested a great deal of time and money to make it a jewel in the community. That said, they felt it was time to hand the baton to a new owner who would take it to the next level."

Situated at the mouth of Warwick Cove, the 70-acre property includes 202 boat slips, a 9-hole golf course, an indoor event space that can cater to up to 250 guests, as well as a restaurant and bar, and an infinity pool with a poolside bar.

"Monument Marine Group and their operating partner, Oasis Marina Management, have the vision, team and financial capability to bring Harbor Lights to its full potential," said Joe Noel, member of the Noel family and seller of the property. "We are excited to see how Harbor Lights will grow under their stewardship."

The Noel family retained Colliers to quietly sell the property as an off-market listing. The Leisure Property Advisors team approached a number of qualified buyers and received multiple offers on the property.

About Colliers

Colliers is a leading diversified professional services and investment management company. With operations in 65 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers (https://twitter.com/Colliers) or LinkedIn (https://ca.linkedin.com/company/colliers).

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Source:Colliers
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Tags:Commercial Real Estate
Industry:Real Estate
Location:Warwick - Rhode Island - United States
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