Dallas asset management firm buys Prairie Creek Marina for $30 million
by October 14, 2024 3:21 pm 4,994 views
Prairie Creek Marina on Beaver Lake east of Rogers has sold for $30 million in an off-market deal. Allied Strategic Partners, a Dallas-based private asset management firm focused on leisure and hospitality-related investments, purchased the marina.
Located at 1 Prairie Creek Marina Drive, the property includes more than 750 boat slips, fueling station, store and restaurant. The seller was Craig Smith, who’s owned the business for about 30 years. Grady Mathews, principal broker of commercial real estate firm Genesis Commercial in Rogers, brokered the deal that’s been in the works for about 18 months.
Allied Strategic Partners will continue to operate the marina, which was built in 1966 and has grown over the years, Mathews said.
“They’ve got some really fun plans for what they want to do with it to continue to make it better,” Mathews said.
Mathews said he became connected to the private asset management firm through mutual relationships in the area.
“We did a call for offers on it, and we got six offers,” he said. “They just won out the call for offers.”
The water rights for Prairie Creek Marina will continue to be leased from the U.S. Army Corp of Engineers.
Founded in 2021, Allied Strategic Partners owns marinas in multiple states, including Alabama, Georgia, Kansas, and Tennessee. The firm’s portfolio includes about 2,450 boat slips, 30 cabins and 80 recreational vehicle sites. The firm most recently acquired Jayhawk Marina on Hillsdale Lake in Paola, Kan., about 45 minutes southwest of Kansas City, Mo.