Suntex Marinas Investors, which is backed by Centerbridge Partners, is preparing for an initial public offering, according to people with knowledge of the matter.
One of the people said that Bank of America would lead the listing, which could happen as soon as the third quarter. The company may be worth more than $3 billion if the market conditions are right.
Representatives for Centerbridge and Bank of America did not respond. A Suntex spokesman didn't respond to a request for comment.
Centerbridge is an investor in Suntex. Suntex, led by Chief Executive Officer Bryan Redmond and Chairman Johnny Powers, acquired Westrec Marinas in February.
Centerbridge's head of real estate said in a statement that they continue to see significant growth opportunities to serve the increasing demand for boating and leisure activities.
The company has marinas in California, New York, New Jersey, Florida, Texas and Georgia. Sun Communities Inc., which acquired Safe Harbor Marinas in 2020, will compete with Suntex if it makes a public markets debut.
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