Lighthouse Point Marina in Canton — in addition to Bo Brooks Crab House and Tiki Bar — has been offered to Monument Marine Group, a Baltimore-based marina investor that plans to overtake the marina beginning later this yr.
The vendor, Baltimore-based developer War Horse Cities, introduced the sale Wednesday however didn’t disclose the quantity. War Horse purchased the marina as a part of a portfolio of properties in 2017 and has been updating the Lighthouse Point services, which embrace a 460-slip marina.
War Horse, based by former Under Armour govt Scott Plank, brother of Under Armour founder Kevin Plank, had been exploring new designs for a state-of-the-art alternative of the marina. The developer additionally invested in enhancements to the pool and restaurant, mentioned Steve Jennings, president of War Horse Cities, within the announcement.
Monument Marine, which says it’s led by lifelong boaters who grew up crusing and boating on the Chesapeake Bay, plans to make use of and refine War Horse’s marina alternative designs. Current marina supervisor Oasis Marinas will stay in that function.
Construction to overtake the marina is anticipated to start out by the third quarter of this yr and be completed in 2024.
Monument Marine mentioned in an announcement that it has acquired 4 different mid-Atlantic marinas since December, together with two in North East in Cecil County and two in Virginia.
It expects to proceed work on the Canton marina and restaurant constructing “to further our vision of building best-in-class marinas,” the corporate mentioned.
The new marina is anticipated to incorporate some new retail.
War Horse, which continues to personal the Inner Harbor Marina and the Canton Heliport, marina and boatel, expects to be “part of the future development of this very important marina and waterfront setting in Baltimore,” mentioned Seth Peichert, War Horse asset supervisor, in Wednesday’s announcement.