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IGY Completes Acquisition of Sun Resorts International

Island Global Yachting (IGY), one of the world’s premier owners, developers and managers of luxury marinas and yachting lifestyle destinations, announced that it has closed on its acquisition of Sun Resorts International (SRI) and its subsidiary Sun Resorts Management (SRM). SRI and SRM own and manage many of the top marinas in North America.

“We are pleased to bring the marinas of Sun Resorts International into the global collection of IGY,” said Andrew L. Farkas, CEO of Island Global Yachting. “The strategic positioning of these properties in the Caribbean definitely complements our existing assets and affords us even greater opportunities to serve our yachting clientele. With this addition, boaters can travel throughout the region from St. Lucia, through the Dutch Antilles, into the British Virgin Islands, and on to St. Thomas and always have the premier experience of an IGY marina.”

IGY developments are not only enhancing and revitalizing their local areas, but the network of properties is setting new standards for service and quality at marinas across the globe. IGY’s signature marina, Yacht Haven Grande, has just opened in St. Thomas, USVI and can accommodate yachts ranging in size from 60 to 500 feet. Its facilities are considered by the industry to be the most technologically advanced and are complemented by its upland development of world-class shopping, restaurants, entertainment and recreational amenities, as well as residential units. Since its opening, the marina has attracted some of the world’s most spectacular private yachts.

Charles Garner, president of IGY, said, “Bringing the Sun Resorts’ team and its portfolio of properties into the IGY family not only gives us the leading position throughout the Caribbean, but also adds dynamic leadership across the company. With now over 5,000 slips, existing or in development, and another 36,000 being planned, we are one of the largest managers and developers of berths in the world.”

Through its acquisition of SRM, IGY has now assumed management of an additional 11 marinas — seven in Texas and four in the Caribbean. The Caribbean facilities are: American Yacht Harbor, St. Thomas, USVI; Simpson Bay Yacht Club, St. Maarten, NA; Virgin Gorda Yacht Harbor, Virgin Gorda, BVI; and Village Cay Marina, Tortola, BVI. As a part of the transaction, IGY acquired American Yacht Harbor in St. Thomas outright and all of SRI’s interest in the three other Caribbean facilities. The Sun Resorts acquisition adds 442 more berths to IGY’s Caribbean offerings alone.

ABOUT ISLAND GLOBAL YACHTING From the islands of the Caribbean to azure waters of the Arabian Gulf and other beautiful yachting destinations around the world, IGY is redefining the very idea of luxury marina experiences. Founded in 2005 by Andrew L. Farkas, IGY focuses on acquiring, controlling and/or servicing luxury-yacht marinas and the surrounding upland real estate properties. Island Global Yachting marinas operate under the signature Yacht Haven Grande collection and the IGY series brands, as well as several private labels. Headquartered in Fort Lauderdale, Florida, IGY also has offices in New York, NY; St. Thomas, USVI; and Dubai, UAE. For more information, please visit www.igymarinas.com.

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