One offer in on Ranta Marina, other offers still encouraged

 

 

By Ron Giofu

 

The realtor selling Ranta Marina says one offer has been made but noted other offers are still welcome.

John D’Alimonte of Re/Max Realty said the marina is listed for sale on MLS and is being listed under a power of sale. He said the mortgagees took possession of the property last year and D’Alimonte just listed it in mid-January. A Woodbridge-based lawyer is acting on behalf of the Toronto investors who currently have the mortgage on the property, located at 1500 Front Road North.

It is being listed at $1,899,000. The town sold the marina in 2009 for $584,000.

Ranta Marina, as seen Jan. 31, 2016

Ranta Marina, as seen Jan. 31, 2016

“We do have an offer going back-and-forth,” said D’Alimonte.

Noting he is “fairly optimistic,” D’Alimonte did note that offers on these types of transactions often come in conditional on a number of items and if one of the conditions isn’t met, it can scuttle the offer.

“We encourage other buyers to come in as back up offers,” said D’Alimonte.

D’Alimonte pointed out the marina was built by the federal government and believes there will be others who show interest in the 104-slip facility.

“It’s a beautiful marina,” said D’Alimonte. “I think there is going to be a lot of interest.”

Stating people from out-of-town see the value of investing in this area, D’Alimonte believes that is where some of the interest could come from. The entire site is 13 acres.

“My goal is to market the property outside the region,” he said. “This could be attractive to American boaters, possibly.”

A number of people from the Toronto area are also buying up local land due to the lower prices as compared to the GTA.

“They are buying our investment properties. They are getting returns on their money,” said D’Alimonte.

According to D’Alimonte, the parkland next door is not part of the deal. The town elected to keep that land in 2009.

“The Ranta Park is not included,” said D’Alimonte.

D’Alimonte emphasized his belief that it is a “jewel of a property” and estimated it could be three to five months before it is known whether the current offer will be fully accepted.

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