Company News
Kingsbarn and London Boat Rentals Launch New Yacht Chartering Venture
Long Beach, California, June 16, 2021 – Kingsbarn Realty Capital (“Company” or “Kingsbarn”) announced the formation of a joint venture with London Boat Rentals of Long Beach ("LBR") to form and operate a new boat chartering company based in Alamitos Bay, Long Beach, California. The new company will be known as Crown Yacht Cruises and will commence operations later this summer.
Crown Yacht Cruises has purchased a Samana 59 sailing catamaran from Fountaine Pajot, a French boat builder, which was delivered May 26, 2021, to the Alamitos Bay Yacht Club for mooring. The Samana 59 is a 59-foot, tri-level, double hull vessel with six bedrooms and crew accommodations. The Black Cat is docked in front of Alamitos Bay Landing adjacent to the new Ballast Point Brewing Company, which will serve as its permanent home. Ballast Point will provide food and beverage services through Crown Yacht Cruises concierge services.
Crown Yacht Cruises will provide chartered yacht excursions from Alamitos Bay to ports along the California coast and will feature day trips and weekend ventures to Avalon, Catalina. Passengers will choose from the many catering and beverage options available and will have the opportunity to customize their adventure with music selections, accoutrements, and selected destinations.
The Samana 59 sailing catamaran is the perfect venue for weddings and bridal showers, birthday parties, company retreats, family outings, and important special events. Kingsbarn also intends to utilize the yacht for company presentations to new investors and to real estate professionals.
Beginning in July, the Black Cat will be docked in front of Ballast Point and will be available for nightly bottle service in three separate locations on board.
About Kingsbarn Realty Capital
Kingsbarn Realty Capital is a real estate private equity and development firm based in Las Vegas, Nevada. Kingsbarn structures its real estate investment opportunities for both fractional 1031 investors as well as providing customized portfolio solutions for large scale investors. Kingsbarns’ management team has wide-ranging experience developing, managing, operating, and sponsoring a diversified portfolio of stabilized, income-driven properties. Kingsbarn has acquired and currently operates over $600 million of commercial real estate throughout the United States. In 2020, Kingsbarn Capital and Development was founded as the company’s development arm to expand its product offerings for investors to include ground-up development of real estate assets and to fund operating companies who require real estate solutions across the United States.
About London Boat Rentals
London Boat Rentals ("LBR") commenced operations in 2015 and has operated continuously from Alamitos Bay Harbor since then. LBR currently has 28 vessels including Yamaha Wave-Runners, duffy boats, and a Boston Whaler fishing boat. The company continues to expand its inventory of marine recreational equipment and has plans to expand to additional southern California harbors soon.
About Crown Yacht Cruises
Crown Yacht Cruises will begin operations in July 2021 in Alamitos Bay, Long Beach, California. The boats will be operated with personnel contracted through London Boat Rentals.
No Offer
This is not an offer. An offer will only be made pursuant to the delivery of the required offering documents, including the private placement memorandum, as supplemented or amended (the “Memorandum”) and only in states in which the securities offered pursuant to the Memorandum are registered or exempt from registration requirements, and only by broker-dealers authorized to do so. This information discusses general information about the portfolio and is not a guarantee, prediction or projection of future performance. Diversification does not protect against loss or guarantee return. There are risks associated with investing in real estate assets, such as inflation, interest rates, real estate tax rates, changes in the general economic climate, local conditions such as population trends and neighborhood values, and supply and demand for similar property types. Investing in DSTs and 1031 exchanges involves significant tax consequences. Please refer to the Memorandum for detailed information about the offering and its associated risks and implications.
Forward-Looking Statements
This press release may contain forward-looking statements identified by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release. Kingsbarn assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.