West Dennis Marina, Cape Cod

Bass River Marina, in West Dennis, Cape Cod, Massachusetts consists of 160 wet slips, 180 dry racks and various other marina property and operations including boat sales and service facilities.

Initially 50% of the wet slips & dry racks will be sold to individual owners, in parallel with the sale of a commercial building that is situated on the property. When this process is completed the balance of assets will be sold as a fully functional marina.

An agreement has been entered into with the seller to provide substantial seller finance and manage the operations of the marina until the final sell-out. The marina is being purchased outright from its existing owner and will be fi nanced by $5.5m equity, $5m seller note and the balance as a seller earn-out based on project proceeds projected at $3.5m.