Knoxville, TN [April 12, 2016]- Anchor South Investments, LLC and its property management company Anchor South Management, LLC, both based in Knoxville, TN have joined Suntex Marina Investors, LLC, based in Dallas, TX . The Anchor South companies are now wholly-owned subsidiaries of Suntex. Anchor South will continue to be headquartered in Knoxville and headed by President of Anchor South Investments, Mitchell Jones, while Suntex will continue to be based in Dallas and led by Johnny Powers, Founding Principal and CEO.
With this merger, these combined marina investment companies will collectively own and operate 29 marinas in the United States and Caribbean. Over $200 million in equity and over $200 million in alternative funding are collectively being used to acquire select marinas across the United States that meet the strict “institutional quality” standards of Suntex and Anchor South.
“We are thrilled to join forces with Anchor South. Their team shares our passion and commitment for offering the best in customer service and the highest quality of marina life experience possible, while also delivering strong financial results for our investors, owners, and stakeholders,” said Bryan Redmond, Founding Principal and Head of Acquisitions at Suntex. “As well, we are excited about this new partnership and confident that together, we will continue to grow and provide our marina tenants and guest with memorable experiences each and every time they visit one of our properties,” Mitchell Jones commented.
Alicia Jones, President of Anchor South Management added, “This is an exciting step forward for all of us as we bring together these two great and complementary companies. Joining forces with Suntex will allow us to position the combined company as the most sought after investor and operator in this exciting segment of the industry and enhances our ability to deliver quality experiences to boaters across the U.S. and Caribbean.” Johnny Powers concluded, “We will stay true to our guests, our brands, and most importantly our core values of faith, integrity, and service while driving enhanced performance for our investors as we continue to grow together.”