The Real Deal Miami

Miami boatyard rights itself

Once swamped by the recession, marine facility now slated for upgrade
October 27, 2014 12:45PM

Rahmi Koc

Rahmi Koç

New owners of the former Merrill-Stevens Dry Dock Co., now known as RMK Merrill-Stevens, are planning an upgrade of the six-acre facility.

The marina has serviced yachts for big names like Malcolm Forbes, Ivana Trump, Nicholas Cage and Johnny Depp but suffered during the recession, closing its doors in 2009. The boatyard was acquired in November 2013 by Turkish billionaire industrialist Rahmi M. Koç with minority partner and CEO John Spencer, a former yard superintendent.

The marine industry is recovering after the economic downturn, Spencer told the Miami Herald, and the boatyard has a full workload. Plans to modernize the facility stand out when many sites along the Miami River are being turned over to condo developers. [Miami Herald] – Jennifer White Karp