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Entrepreneur forms company to acquire marina properties.

Entrepreneur forms company to acquire marina properties

Real estate entrepreneur Arthur Collins is seeking new ways to convert waterfront assets.

Collins who has developed sold or leased millions of square feet of residential, mized-use and commercial property over the past three decades, has, in association with others, formed a new company to acquire and/or manage marina facilities, as well as other waterfront properties. Called Maritime Properties, Inc. the firm is already involved in negotiations with several marina operators in the New York Metropolitan area, according to Arthur Collins Jr., president of the new firm. The situations include both independently owned marinas which need a new infusion of money and talent, as well as properties that have been acquired by banks through foreclosure.

Marketing and management assistance is being provided by Coulter & Delaney Marketing, a New London, Connecticut-based specialist in marina operations. The firm is developing leads for potential acquisitions, according to Collins, while also providing strategic market and management planning where appropriate. "It's a nice business with which very few investors are totally comfortable," he said. "It requires an expertise not easily available without years of experience in handling marina properties. That's why so many marinas are ailing today."
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Title Annotation:real estate entrepreneur Arthur Collins
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Dec 18, 1991
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