Asset management firm Allied Strategic Partners (ASP) has purchased Prairie Creek Marina on Beaver Lake, east of the city of Rogers in Arkansas.
According to its website, the Dallas-based private asset manager focuses on “marina space investments.” Its properties include marinas in Georgia, Virginia, and Tennessee, among other locations.
Grady Mathews, the principal broker of commercial real estate firm Genesis Commercial, who brokered the deal, said ASP has “some really fun plans for what they want to do with it to make it better,” according to Talk Business & Politics.
The latest portfolio acquisition for ASP on Beaver Lake includes more than 750 boat slips. It also comes with a fueling station, a restaurant and a store. The previous owner, Craig Smith, owned the business for roughly three decades.
ASP acquired the nearly 60-year-old marina for $30 million in an off-market deal that took a year and a half to close. Matthews says ASP and he connected to complete the deal through mutual relationships in the area.
“We did a call for offers on it, and we got six offers… They just won out the call for offers,” said Mathews.
Mathews says Allied Strategic Partners intends to continue to operate the marina.
Earlier this month, ASP also acquired Jayhawk Marina, located on Hillsdale Lake in Paola, Kansas. Management of Jayhawk Marina will be delegated to Blue Harbor Management, a subsidiary of ASP.
“Jayhawk Marina’s prime location and extensive amenities make it an ideal addition to our portfolio… It is the perfect addition to our growing portfolio of best-in-class marinas, and we look forward to further enhancing the customer experience at this location with the proven management stewardship of Blue Harbor Management,” said ASP managing partner Quinn Heidenreich.
In total, ASP lists seven marinas in its portfolio on its website, not including the latest addition on Beaver Lake.