MarinasForSale.com was launched in 1983 in Falmouth, Massachusetts on Cape Cod. Initially, the firm listed and sold marinas in this state only. Over the years, we have become licensed as real estate brokers in fourteen states and have a working relationship with brokerage firms throughout the United States, Canada, Mexico and The Caribbean.
We enjoy positive relationships with marina lenders for financing of marine facilities throughout the United States, Canada, The Caribbean and Mexico. These financial institutions are based throughout the United States as well as off-shore.
Our firm has been selected by several international firms to locate marinas in North America, Mexico and the Caribbean for acquisition. Sales are generally consummated within 180 days of contractual agreement, often with no contingency for financing. The short term profile of these prospects is to acquire multiple marina properties throughout North America.
One of our functions has been to provide valuation services to marina lenders, the FDIC, State of Florida, expert trial testimony and the US Bankruptcy Court. We have developed a confidential knowledge of internal financial information that assists in determining value of a marina or boatyard based upon the income, market conditions, CAP rates and asset/sale approaches. Appraisers find our data invaluable and often consult with members of our staff to help in their valuations.
Our website www.MarinasForSale.com enjoys over 1,500,000 hits and 55,000 unique visits per month. This new marketing tool has proven to be a successful venture into the realm of Internet based sales. Our experience has proven that it is more important to have access to qualified buyers, rather than to concentrate on specific locations or areas. The appetite of major prospects focuses on worldwide locations, diversified cash flow, CAP rates and expectation of future capital gain.
Our services include inspection of the facility, reconstruction of the financials to determine actual cash flow (EBITDA), preparation of an electronic and physical marketing brochure, composition of a comprehensive business plan for financing purposes and assistance with arranging equity participation and mortgage funding, if required. We are sensitive to the need for confidentiality and can limit the public exposure of the offering depending upon an owner’s wishes or needs. Prior to release of any information or identification of the location, our firm qualifies the financial ability of the prospect and requires the execution of a Memorandum of Confidentiality for the protection of the owner. Our fee for services is negotiated and paid only upon a successful sale and full consideration paid to the Seller.
We would be delighted to offer all of our marina experience and expertise to you should you elect to utilize our services.
About Jim Foley
Jim was educated at Boston College, Boston University and Burnside Ott School of Aviation and became licensed as a commercial pilot and flight instructor. Prior to entering the field of real estate, he was employed at the Boston Field Office of the Federal Bureau of Investigation. In 1970, Jim was licensed by The Commonwealth of Massachusetts as a real estate broker and Foley Real Estate was hatched. Over the years, the staff grew to over twenty licensed agents and support staff. Currently, he serves on The Massachusetts and/or The Cape Cod & Islands Association of Realtors Professional Standards Committee, Mediation Committee, Education Committee and formerly the Grievance Committee. Jim has been certified to teach and has instructed broker and salesperson pre-licensing courses. Presently, Jim holds licenses as a real estate broker in fourteen states.
About Richard MacLellan
Richard MacLellan joined Marinasforsale.com in January 2017, based in Estero, Florida focusing on securing marina listings and prospects for acquisitions of marinas throughout Florida. He is also a realtor in Massachusetts 1993 (present), Florida Realtor 2017, and Notary Public 2015 (present).
Richard attended Northeastern University in Boston Mass. After retiring from Verizon Communications with 25 years of service and established MacLellan Property Management 1991 until present. Richard resides year round in Estero, Florida with his wife Kathy of 23 years.