USA: TPG to manage Epum marinas

TPG Hotels & Resorts and its marina management affiliate TPG Marinas has been contracted to manage six east coast marinas for private commercial property developer Epum Holdings.

The marinas in the portfolio comprise five marinas in Connecticut: Old Harbor Marina, Clinton; Mystic Point, Mystic; Spicer’s Marina, Groton; Noank Shipyard, Groton; Glastonbury Marina, Glastonbury; and Sunset Harbor in Essex, Maryland.
TPG Hotels chief development officer, Tim Muir, said: “We see a significant opportunity to deploy our institutional management platform to these assets and enhance their operations to increase the value of these marinas. Adding these marinas fits our strategic vision to expand our management platform with premier marinas nationwide.”
“We were looking for an operating partner that shares our culture, values and philosophy,” added Spencer Steiff, partner Epum Holdings. “These marinas are integral to our strategy of creating long-term and shared value for boaters, stakeholders and ownership. This operating agreement with TPG further enhances our ability to focus on our core competencies and grow our portfolio.”