TPG Marinas announced that it has assumed the management of five facilities in Connecticut and one in Maryland for Epum Holdings.
Epum develops and invests in properties within the commercial real estate industry.
“Epum Holdings is a leading private, commercial real estate developer in our industry, and we are pleased to welcome them as a new partner and these exceptional properties into our marina portfolio,” Tim Muir, chief development officer with TPG Hotels & Resorts, said in a statement. “We see a significant opportunity to deploy our institutional management platform to these assets and enhance their operations to increase the value of these marinas.”
The six properties that TPG will manage are:
• Old Harbor Marina, Clinton, Conn.
• Mystic Point Marina, Mystic, Conn.
• Spicer’s Marina, Groton, Conn.
• Noank Shipyard, Groton, Conn.
• Glastonbury Marina, Glastonbury, Conn.
• Sunset Harbor, Essex, Md.
“We were looking for an operating partner that shares our culture, values and philosophy,” Spencer Steiff, a partner at Epum Holdings, said in the statement. “These marinas are integral to our strategy of creating long-term and shared value for boats, stakeholders and ownership.”
