NexPoint Launches $49 Million Marina II DST Backed by Tennessee and Kentucky Marina Properties
DALLAS — Aug. 27, 2026 — NexPoint, the Dallas-based alternative investment firm, has launched NexPoint Marina II DST, a Delaware statutory trust offering with a total capitalization of $49.0 million backed by two full-service marina properties in Tennessee and Kentucky. FNEX Capital LLC and Emerson Equity LLC are serving as placement agents for the offering, which is available to accredited investors through a private placement memorandum.
The offering carries an acquisition cost of approximately $44.0 million and is structured around Stardust Marina in Andersonville, Tennessee, and Kuttawa Harbor Marina in Kuttawa, Kentucky — two destination marinas operating in established recreational boating markets.
Two Marina Properties Anchor the DST Portfolio
Stardust Marina sits on approximately 55 acres along Norris Lake, one of the Southeast's prominent recreational boating destinations, at 149 Stardust Lane in Andersonville, Tennessee. The property features 598 slips across five floating dock structures and is located within driving distance of both Knoxville and Nashville. Beyond slip rentals, the marina generates revenue through fuel sales, food and beverage operations, retail offerings, lodging accommodations, RV spaces, and boat rentals. A June 2026 expansion added approximately 62 wet slips to the property, creating additional capacity to meet existing demand.
Kuttawa Harbor Marina is situated on approximately 25 acres at 1709 Lake Barkley Drive in Kuttawa, Kentucky, on Lake Barkley — part of one of the largest interconnected recreational boating systems in the central United States. The property features 409 slips and serves regional and visiting boaters. The marina operates with active waitlists and a long history on the Lake Barkley corridor. Revenue streams include slip rentals, fuel services, food and beverage, retail, and boat and lodging rentals. Recent dock expansions are expected to increase capacity further.
Both properties will be managed by New Haven Property Management, a marina operator specializing in waterfront asset management, guest services, fuel operations, dock services, and ancillary revenue optimization.
NexPoint Cites Supply Constraints and Diversified Revenue as Key Drivers
NexPoint is positioning marina real estate as a sector supported by limited waterfront development opportunities, environmental permitting barriers, high customer retention, and a large recreational boating base. The firm says both properties operate at or near full occupancy, with Stardust Marina's recent slip expansion designed to capture unmet demand.
"NexPoint Marina II DST reflects our strategy of acquiring high-quality real estate assets in sectors supported by favorable supply and demand dynamics," said Taylor Colbert, Managing Director for NexPoint. "Both properties exhibit strong operating performance, diversified revenue streams, and embedded expansion opportunities that we believe can support long-term value creation for investors."
Industry data underscores the supply-side thesis: more than 50% of U.S. marinas exceeded 95% occupancy in recent periods, with 26% operating at full capacity. Marina assets commonly trade at cap rates ranging from 6% to 10%, with premium, well-located properties at the lower end of that range.
NexPoint's Second Marina DST in 2026
The Marina II DST is NexPoint's second marina-focused Delaware statutory trust offering this year. The firm's first marina DST, launched in March 2026 and backed by Eufaula Cove Marina in Oklahoma and Grafton Harbor in Illinois, was fully subscribed by July 2026. The back-to-back offerings reflect NexPoint's use of the DST structure to provide accredited investors with tax-deferred real estate exposure through 1031 exchanges.
The National Marine Manufacturers Association has described the U.S. recreational boating market as entering 2026 in a position of relative stability, supported by steady activity and continued demand across accessible segments.
About the Offering and NexPoint
NexPoint is structured around three major business areas: real estate, corporate credit and equities, and retirement solutions. The firm offers investment strategies across mutual funds, public and private REITs, tax-advantaged vehicles, private funds, and separate accounts.
The NexPoint Marina II DST offering is available only through a private placement memorandum to accredited investors where permitted by law. Investor relations inquiries can be directed to IR@nexpoint.com.
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