War Horse Cities, alongside Monument Marine Group, Build a Bright Future for Lighthouse Point Marina

BALTIMORE, April 20, 2022 (GLOBE NEWSWIRE) -- War Horse Cities, a real estate investment and development firm, today announced the sale of Lighthouse Point Marina including Bo Brooks and the Tiki Bar, to Baltimore based marina investor and operator Monument Marine Group ("MMG"). Since acquiring Lighthouse Point Marina in 2017, War Horse has reinvigorated the waterfront with significant updates to the facilities, as well as engaging Oasis Marinas to manage the 460 slip marina. MMG will continue to advance and reactivate the vibrancy of the Baltimore waterfront with significant updates to the facilities.

"When War Horse Cities first acquired Lighthouse Point Marina, we took the time to understand the needs of this wonderful asset and determine the best design and timing for replacement. While we continued to explore those options, we immediately invested in stabilizing the marina's management and improving key amenities such as the pool and adjacent restaurant that today make Lighthouse Point a terrific destination," said Steve Jennings, President, War Horse Cities.

Prior to the sale to MMG, and in collaboration with Oasis Marinas and Moffat & Nichol, the War Horse Cities team designed a state-of-the-art replacement for Lighthouse Point Marina. As MMG emerged as the purchaser of the marina, the two parties worked together to refine the improvements and cater the design to fit MMG's model. Oasis Marinas will stay on-board as the management team, working alongside MMG to bring this project to life. Construction is expected to begin Q3 2022 and be completed in 2024. The acquisition of Lighthouse Point marks MMG's fifth acquisition in the mid-Atlantic since December 2021.

"The entire MMG team is looking forward to advancing progress at Lighthouse Point and the Bo Brooks building, to further our vision of building best-in-class marinas and unparalleled customer experiences. There is a tremendous opportunity to continue to build a long-term partnership with War Horse Cities and create value for our communities." – Monument Marine Group

Seth Peichert, Asset Manager at War Horse Cities, adds, "The War Horse Cities development team has always viewed the opportunity to acquire Lighthouse Point Marina as a way to breathe life and excitement into the Charm City waterfront. We are confident that Monument Marine Group, a leader in their field, will carry out this mission and are fully capable of taking this replacement through to completion. We look forward to being part of the future development of this very important marina and waterfront setting in Baltimore."

Located in the heart of Canton, Lighthouse Point offers exciting opportunities for boating, residential, dining and socializing at a quintessential Baltimore location. The new marina will serve as a community amenity for the city of Baltimore with reactivated retail experiences while creating the leading asset for annual and transient boaters to enjoy. War Horse Cities continues to own several upland assets at Lighthouse Point, the Inner Harbor Marina, and the Canton Heliport, marina and boatel. For more information, please click here.

About War Horse Cities
Headquartered in Baltimore, War Horse Cities is a real estate investment and development firm that strives to make positive impacts at the community level. We are driven to transform cultures within cities to be socially and economically stronger and more vibrant through impact-driven real estate, hospitality and philanthropy. Hand-in-hand with the neighborhoods we serve, War Horse Cities invests in collaborative spaces, developing real estate and creating philanthropic initiatives for long-term positive change. Learn more about War Horse Cities, a JSP Ventures company, at https://warhorsecities.com/.

About Monument Marine Group
Monument Marine Group is a Baltimore-based firm focused on investment opportunities in the marine industry across the United States and Caribbean. Our team is a collection of life-long boaters who grew up sailing and boating with our families in the Chesapeake Bay. We are passionate about creating unique experiences both on-and-off the water that promote recreational boating, community building, and sustainability. Monument Marine Group was established with the singular purpose of partnering with marina owners, municipalities, and developers who are seeking liquidity through the sale of their marina or are seeking growth capital to expand and/or optimize current operations.

Our vision is to build a collection of best-in-class marinas across the United States and Caribbean that deliver unparallel customer experiences on-and-off the water. Learn more about us at https://www.monumentmarinegroup.com/.

Media Contact
Taylor Hadley
LaunchTech Communications on behalf of War Horse Cities
taylor@golaunchtech.com