SAVANNAH, Ga. - eTradeWire -- (SAVANNAH, Ga) After 25 years of continuous ownership, the Isle of Hope Marina (https://www.iohmarina.com/) has been sold to TPG Marinas (https://www.tpgmarinas.com/), the full-service marina management affiliate of Rhode Island-based Procaccianti Companies (https://www.procaccianti.com/). TPG Marinas currently owns and operates multiple marinas in highly regulated and historic areas similar to Isle of Hope, including Nantucket, Massachusetts; Block Island, Rhode Island; Port Jefferson, New York; New Orleans, Louisiana and Jamestown, Rhode Island.

"We know Isle of Hope Marina is a very special place, and when we made the difficult decision to sell, we also made the commitment to finding the right buyer, with similar values, who we believed would be the best steward of the marina," said Charlie Waller, the former owner. "We are confident we have found these qualities in TPG Marinas. We have complete confidence they will treat Isle of Hope with the same level of respect and appreciation as we have for the past 25 years."

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Waller purchased the Isle of Hope Marina in 1997 from David Johnson Jr. Since then, he has invested over $2 million in concrete floating docks, an overwater pavilion, clubhouse, and most recently, the Carefree Boat Club (https://carefreeboats.com/).

"Operating exceptional facilities and providing professional service are our top priorities," said Rob Leven, chief investment officer, Procaccianti Companies and TPG Marinas. "TPG Marinas is also committed to being strong corporate citizens and integrating our operations and people into the communities we serve."

TPG Marinas has committed to supporting the Isle of Hope Art and Music Festival (https://www.facebook.com/IsleOfHopeArtMusicFest/) on October 22 and has already begun advance planning for this popular annual event. The new owner is also planning to continue The Pavilion Series (https://www.iohmarina.com/events) each month and offer the pavilion as a center for neighborhood activity, including benefits for local events and marine causes as well as special events like the Savannah Philharmonic's (https://savannahphilharmonic.org/) "Phil the Neighborhood" performance at the pavilion, planned for September.

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The new owner plans to retain all the Isle of Hope Marina's staff, including the management team. Chris Hodges and Kimberly Sutton will continue to direct the marina's operations as general manager and office manager.

A reception will be held at the pavilion on Thursday evening, July 21, for the Isle of Hope Marina's boaters, neighbors and customers to meet the new owners and welcome them to the area. For more information, contact Kathryn Ann Waller at 912-429-9380.