Blue Cove Capital Acquires Rock Harbor Marina From PSF II Rock Harbor OpCo in Nashville
Blue Cove Capital, LLC has acquired Rock Harbor Marina, Nashville's only full-service marina, from PSF II Rock Harbor OpCo, LLC and PSF II Rock Harbor Market, LLC in a transaction brokered by Colliers. The sale price was undisclosed.
The marina is located at 525 Basswood Ave. in Nashville, Tennessee, in a protected cove along the Cumberland River approximately 10 minutes from downtown. The property offers more than 150 covered and uncovered wet slips accommodating vessels ranging from 25 to 70 feet in length, along with transient dockage, personal watercraft ports, trailer storage and dry storage.
Nashville's Only Full-Service Marina Changes Hands
Rock Harbor Marina serves as a primary gateway to the Cumberland River for the Nashville metropolitan area's boating community. Its full-service operations include a 55-ton travel lift, marine repairs and maintenance, hull work, winterization services, a parts department and a 24-hour fuel dock. On-site amenities include restrooms, showers, laundry facilities, a ship store and Blue Moon Waterfront Grille.
The property also holds permits that provide an opportunity for future slip expansion beyond its current capacity.
Colliers Ran Confidential Process That Drew Multiple Offers
Matt Putnam, Andrew Cantor and Dan Grovatt of Colliers, who specialize in leisure property advisory, represented the sellers — PSF II Rock Harbor OpCo, LLC and PSF II Rock Harbor Market, LLC — in the transaction. Blue Cove Capital was not represented by a broker.
Colliers conducted a confidential marketing process that generated multiple qualified offers. Blue Cove Capital ultimately emerged as the preferred buyer based on its vision for the marina and its connection to the local community.
"Rock Harbor Marina generated significant interest from qualified buyers because of its irreplaceable position in the Nashville market, established operating platform and potential for continued growth," said Dan Grovatt, senior vice president at Colliers. "Blue Cove Capital's local roots and marina experience make the company well positioned to build on the property's legacy and realize its long-term potential."
Blue Cove Capital Targets Inland Waterfront Assets Across the Southeast
Blue Cove Capital is a Nashville-based hospitality investment and development platform that powers Blue Cove Marinas, focused on acquiring, repositioning and operating inland waterfront assets across the Southeast U.S. and beyond. The acquisition of Rock Harbor Marina fits that strategy, with the buyer bringing both local market knowledge and marina operating experience to the asset.
The marina's status as the only full-service marina serving the Nashville metropolitan area, combined with its permit-backed expansion potential, contributed to the competitive interest the property attracted during the marketing process. Waterfront locations, permitting and slip capacity are difficult to replicate in dense urban markets, characteristics that can support pricing power and long-term operational upside for marina assets.
About the Parties
PSF II Rock Harbor OpCo, LLC and PSF II Rock Harbor Market, LLC served as the sellers of Rock Harbor Marina. Blue Cove Capital, LLC, the acquiring entity, is the investment and development platform behind Blue Cove Marinas. Colliers arranged the transaction, with Matt Putnam, Andrew Cantor and Dan Grovatt leading the assignment on behalf of the sellers.