ST. AUGUSTINE, FLORIDA — 02/19/2021

The Jacksonville, FL-based investment group, Bulls Dixon Equity Partners LLC, through its entity BDEP Cat's Paw LLC, has purchased the landmark Cat's Paw Marina, one of only two dry-stack boat barn marinas in St. Augustine and the closest to the ICW. With this change comes exciting development plans and offerings for the boating community.

The marina was purchased in December 2020 and improvements are already underway. To meet the area's growing demand for dry-boat storage, the new owners are investing $11 million expanding and upgrading the existing 32,000 square foot facility and drastically expanding floating docks for additional wet slips and staging.

Marina customers will soon be able to store larger, triple and even quad-engine vessels up to 40' thanks to enhancements on existing dry storage racks and designs for additional larger racks. A brand new, high-capacity forklift has been purchased to accommodate these larger vessels.

Gayle Bulls Dixon explains, "I was drawn to this project when Paul Rohan introduced me to Ms. Sonya Genovar Jensen, who dreamed of, designed, built and poured her heart into the creation of Cat's Paw Marina. She hand-picked a team of smart, committed individuals who take seriously the care of tenants and facilities. They are the heart and soul of the operation. She has entrusted us to preserve this heritage and take Cat's Paw Marina to the next level."

To support the team and the owners with ongoing marina operations and development, the new owners have chosen Florida-based Coastal Marina Management (CMM), one of the most recognized names in the marina business. Scott Burt, the veteran who leads CMM says, "Our goal for boat owners, marina owners and investors is always the same, innovative thinking, creative experiences and strategic planning while focusing on customer service and the bottom line with measurable and accurate results."

The project is a community success story, with local Center State Bank leading the company's lending component. "A special thanks to Jeff Bell, SVP and Area Executive, and his Center State team for being true business partners with us in this venture," says Bulls Dixon. "Center State Bank cares about their community and exemplifies all you expect from a community lending partner."

Those interested in boat storage at Cat's Paw Marina can visit www.catspawmarina.com for more information.