Bain Capital’s Real Estate team and BlueWater Marinas, led by Joe Miller and Dunston Powell, announced the acquisition of Boathouse Marine Center, a dry-stack marina in Pompano Beach, Florida.

Financial terms of the private, off-market purchase weren’t disclosed.

Bain Capital and BlueWater formed a strategic joint venture in 2024 to acquire and operate storage-centric marina properties in boating markets along the East Coast.

BMC is the second asset in the JV’s portfolio, adding to the joint venture’s acquisition of Harbor at Lemon Bay, a dry-stack marina located in the Sarasota submarket of Englewood, Florida.

“Consistent with Bain Capital’s thematic, customer-oriented investment approach, the marina sector benefits from several long-term secular growth drivers, including very high structural supply barriers, increased consumer spending on experiences, and sustained demand for larger boats,” said Andrew Terris, a partner at Bain Capital.

Strategically positioned, BMC offers, officials said, a convenient location in a dense, affluent market near the Hillsborough Inlet.

Pompano Beach, a submarket of Fort Lauderdale, is a long-established boating market that benefits from heavy year-round boating traffic and features some of the strongest supply-demand imbalances in the country.

The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested and committed over $9 billion of equity across multiple sectors.

Bain Capital is one of the world’s leading private investment firms with approximately $185 billion of assets under management.

Headquartered in Charleston, South Carolina, BlueWater Marinas will acquire, develop and operate coastal marina assets, including both dry and wet slips.

BlueWater Marinas was established by former executives and key team members of PORT 32 Marinas and Atlantic Marina Holdings, alongside several marina industry top performers.