In Brief: Procaccianti Companies and Rugger Capital acquired the 217-key Charleston Harbor Resort in Mount Pleasant, South Carolina, while Suntex Marinas acquired the adjacent Charleston Harbor Marina.
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Charleston Harbor Resort & Marina – Image Credit Suntex Marina Investors
Procaccianti Companies and joint venture partner Rugger Capital acquired Charleston Harbor Resort, a waterfront property in Mount Pleasant, South Carolina. TPG Hotels & Resorts, Procaccianti’s hospitality affiliate, will manage the resort.
Suntex Marinas acquired the adjacent Charleston Harbor Marina. The marina has more than 450 slips and accommodates vessels ranging from recreational cruisers to superyachts. Suntex will own and operate the marina.
The resort and marina will have separate ownership and management structures. The properties are located near historic downtown Charleston and the Patriots Point Naval & Maritime Museum.
Procaccianti will explore a comprehensive renovation and repositioning of the resort in the coming months. The work is intended to enhance the guest experience and support long-term value.
Suntex’s national marina portfolio exceeds 100 properties across 17 states. The Charleston Harbor Marina acquisition adds to that portfolio.
Procaccianti, Rugger Capital and Suntex intend to invest in the properties in the years ahead.