BlueGate Boat & RV Storage Acquires Watson Landings Marina in Panama City, Expanding Class-A Marina Holdings

Panama City, Fla. (Nov. 1, 2024) — BlueGate Boat & RV Storage has acquired Watson Landings Marina, a premier Class-A marina in Panama City, Fla. The upscale facility offers top-tier amenities, including 240 dry stack storage units, 13 wet slip spaces, a tiki bar and a club pool. The acquisition supports Blue Gate’s operational strategy of integrating Class-A marinas and storage facilities, enabling efficiencies and economies of scale.

The Panama City Beach Boat & RV Storage, also recently launched by BlueGate, aligns seamlessly with Watson Landings Marina’s offering, enhancing BlueGate’s service reach across Panama City’s high-demand market.

“We are thrilled to welcome Watson Landings Marina to the BlueGate Boat and RV portfolio,” said David Pagliughi, Director of Marina Operations for BlueGate. “Our team is dedicated to continuously improving the facilities and providing the highest standards of service to ensure Watson Landings Marina remains a premier dry storage and marina destination for boaters in the Panama City Florida region. We are confident that our guests will enjoy what we have in store for this incredible property.”

Watson Landings Marina offers unparalleled access to St. Andrews Bay and the Gulf of Mexico. The marina is well-equipped for the modern boating enthusiast, featuring an indoor storage building capable of accommodating boats up to 32 feet, 90-octane, non-ethanol fuel and fish-cleaning stations.

The recent addition of a popular tiki bar positions the marina as a social hub on the bay. Additional amenities include climate-controlled restrooms, storage lockers and a fully-stocked ship store.

Panama City attracts over 4.5 million visitors annually and is home to one of the largest sportfishing fleets in the country, underscoring demand for marina and boat storage services.

Through its BlueGate platform, Madison Capital Group is focused on strategic acquisitions and development of Class-A marinas and recreational storage facilities across the Southeast. With a vertically integrated approach, BlueGate manages each property, ensuring consistency and quality across operations. The company plans targeted marketing and property enhancements to maximize occupancy as part of its post-acquisition strategy.

The marina sector has demonstrated resilience through various economic cycles. With over $1.5 billion of committed equity flowing into the marina space, the industry presents high barriers to entry, attractive supply and demand dynamics and substantial growth potential.

“The addition of Watson Landings Marina allows us to scale operations in one of the most attractive coastal markets in the Southeast,” Pagliughi added.. “With high-quality amenities and a prime location on Watson Bayou, we’re well-positioned to serve the local boating community while creating value for our investors”.

About Madison Capital Group

Madison Capital Group, headquartered in Charlotte, N.C., specializes in real estate investments with a focus on the self-storage and multifamily sectors. The company is the parent entity of Go Store It Self-Storage, a non-traded direct investment sponsor emphasizing self-storage, and Madison Communities, a vertically integrated real estate development and investment firm dedicated to crafting high-quality, suburban, garden-style apartment communities throughout the Southeast. For more information, visit madisoncapgroup.com.

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Media contact:

Thornton Kennedy

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