Procaccianti Companies and Rugger Capital acquire Charleston Harbor Resort

Procaccianti Companies and Rugger Capital acquire Charleston Harbor Resort © Suntex Marinas

Procaccianti Companies and its joint venture partner, Rugger Capital, today announced the acquisition of Charleston Harbor Resort, a 217-key waterfront property in Mount Pleasant, South Carolina.

The resort will be managed by Procaccianti's hospitality affiliate, TPG Hotels & Resorts. In parallel, Suntex Marinas announced its acquisition of the adjacent Charleston Harbor Marina, one of South Carolina's largest in-water marinas, with more than 450 slips accommodating vessels ranging from recreational cruisers to superyachts.

The resort and marina together anchor one of the Southeast's premier waterfront destinations, combining resort hospitality and boating with convenient access to historic downtown Charleston. Each property will be managed separately, with both the marina and resort maintaining specialized ownership and operating expertise.

In the coming months, Procaccianti will explore a comprehensive renovation and repositioning of the Charleston Harbor Resort that is designed to enhance the guest experience and unlock long-term value. At the Charleston Harbor Marina, Suntex, whose national portfolio now exceeds 100 marinas across 17 states, will own and operate the marina.

"Charleston Harbor Resort is exactly the kind of irreplaceable waterfront asset we seek to own for the long term, and we are proud to have brought this partnership together," said John Phelan, Founder and Chairman of Rugger Capital. "We see meaningful potential to add value to the property, attract even more visitors to the nearby Patriots Point Naval & Maritime Museum, and expand our programmatic relationship with TPG Hotels & Resorts."

"The combination of a premier waterfront location, strong operating fundamentals, multiple demand generators, and meaningful opportunities for value creation makes this an exceptionally compelling acquisition in one of the country's strongest hospitality markets," said Robert Leven, Chief Investment Officer of Procaccianti Companies.

"Charleston Harbor Marina represents an important evolution in how we approach waterfront opportunities," said Bryan Redmond, Chief Executive Officer of Suntex Marinas. "Together, Procaccianti Companies, Rugger Capital, and Suntex have created a solution where the separately owned and operated marina and resort complement one another and strengthen the overall waterfront destination. We look forward to building on this approach across other markets nationwide where hospitality and boating intersect."

The new owners intend to invest meaningfully in the properties in the years ahead, deepening Charleston Harbor's role as a destination for visitors, boaters, and the Mount Pleasant community.