CHARLOTTE, N.C., March 30 /PRNewswire/ -- Morningstar Marinas, a
division of Morningstar Properties, LLC has acquired Kings Point Marina in
Cornelius, NC, the largest marina in the state.
Kings Point Marina joins The Peninsula Yacht Club and Morningstar
Marinas at Skipper's Landing as the third marina on Lake Norman and fifth
overall in Morningstar's marina portfolio.
"We are pleased to announce Kings Point Marina as the newest member of
the Morningstar marina family," said Dave Benson, President of Morningstar.
"This is a big move for us. With this acquisition we have reached a scale
on Lake Norman and across our portfolio that will truly allow us to improve
our members and customers recreational experience. Recreational time is
valuable, and we want them to be able to spend their boating time using
their boats, not in endless preparation and maintenance."
With over 700 wet and dry berths, the more than twenty-five acre Kings
Point property is a full service marina that will offer a full shipstore, a
bath and shower house, an on-site repair and maintenance facility, a boat
rental fleet, and fuel and pump-out service. With the Kings Point addition,
Morningstar will have close to 1,600 rentable wet and dry storage berths on
"For over 18 years, Kings Point has been one of leaders on Lake Norman
for service and marina facilities," Benson continues. "We look to build on
this legacy and plan to expand our services and to upgrade property
features and amenities in the coming months."
Morningstar Properties is a diversified real estate operator, developer
and general contractor. For the last twenty-five years, Morningstar has
developed, built, and operated a portfolio of high-end, self-storage
facilities. In addition to the three marina properties on Lake Norman,
Morningstar owns and operates the Reserve Harbor Yacht Club in Pawleys
Island, S.C. and Bahia Bleu in Savannah, GA.
SOURCE Morningstar Properties, LLC