SVN | Marinas sells Skyline Marine Center to GT Capital

SVN | Marinas completed the sale of Skyline Marine Center in Anacortes, Washington, handing the full-service marina and storage facility to Seattle-based GT Capital. The deal adds to GT Capital’s growing Pacific Northwest marina portfolio as demand stays strong for waterfront assets with limited new supply.

Why it matters: - Skyline Marine Center changes hands in a supply-constrained marina market where waterfront development is limited by scarcity, entitlements, environmental rules and construction costs. - The sale reinforces ongoing demand for existing marina assets in the Pacific Northwest, especially properties with protected moorage, dry storage and service operations. - GT Capital adds another marina to a regional portfolio that already includes Dagmars Marina in Everett and Washington Boat Center in Seattle.

What happened: - SVN | Marinas announced the sale of Skyline Marine Center in Anacortes, Washington. - SVN | Marinas exclusively represented the seller and procured the buyer, GT Capital. - GT Capital is a Pacific Northwest real estate investment company with a growing marina portfolio. - Transaction terms were not disclosed.

The details: - Skyline Marine Center sits on Fidalgo Island, near the San Juan Islands and one of the region’s main mainland boating gateways. - The 15-acre property includes 67 protected wet slips, more than 300 dry storage positions and a 94,000-square-foot indoor boat storage warehouse. - The facility also includes marine service operations, commercial suites and a fuel dock. - Skyline Marine Center serves recreational boaters, cruising yachts, anglers and marine enthusiasts traveling through Puget Sound, the San Juan Islands, the Gulf Islands and the Inside Passage to Alaska. - David Kendall, CCIM, managing director of SVN | Marinas, said the sale reflects continued demand for high-quality marine assets in supply-constrained markets. - Kendall said Anacortes is one of the Pacific Northwest’s premier boating gateways and that Skyline’s location, infrastructure and diversified operations created a compelling long-term investment opportunity. - Josh Sheppard, senior advisor at SVN | Marinas, said the transaction was handled through a confidential, relationship-driven advisory process designed to protect the seller’s privacy, preserve uninterrupted operations and identify a buyer positioned for long-term stewardship. - Brian Resendez, CCIM, senior vice president with SVN | Bluestone, served as the Washington broker of record. - The new owner, GT Capital, is based in Seattle and focuses on commercial, multifamily and marina assets across the Puget Sound region. - GT Capital is led by local ownership and says it emphasizes disciplined investing, hands-on asset management and a long-term commitment to the communities where it invests. - More information is available on GT Capital’s website. - SVN | Marinas also lists its presence on LinkedIn, Facebook and Instagram.

Between the lines: - The deal fits a broader pattern in which scarce waterfront properties attract private investors, regional owner-operators, family offices and institutional buyers. - Specialized brokerage and targeted buyer outreach appear to be increasingly important in marina transactions because confidentiality and uninterrupted operations can be as important as price. - Skyline’s scale and mix of wet slips, dry storage and indoor storage make the property more than a simple dock asset; it functions as a diversified marine operating site.

What's next: - GT Capital is expected to build on Skyline Marine Center’s existing operations and regional role, according to SVN | Marinas. - SVN | Marinas said it will continue advising marina owners, investors and developers on brokerage, valuation, acquisition and advisory services. - The firm is focusing on confidential, relationship-driven transactions that connect owners with qualified buyers for marina and waterfront properties.

The bottom line: - In a tight waterfront market, established marina assets like Skyline Marine Center remain highly prized because new supply is so hard to create.