TopSide Marinas has expanded its portfolio in the Midwest with the acquisition of Rathbun Lake Marina, a full-service marina and resort on Rathbun Lake in Moravia, Iowa. The transaction marks the company’s first entry into the Iowa market and continues its strategy of building a regional presence across key recreational lake destinations.
The property is located at 21646 Marina Place on a 160-acre leasehold with the U.S. Army Corps of Engineers. Rathbun Lake Marina offers a broad mix of marina and hospitality uses on site, positioning it as both a boating hub and a drive-to leisure destination for the surrounding region.
The marina currently includes approximately 246 wet slips, supporting a range of boat storage needs on the lake. In addition, the business operates a boat rental program, giving visitors access to the water even if they do not own their own vessels. These offerings are complemented by multiple land-based lodging options designed to capture overnight and multi-day demand.
On the hospitality side, Rathbun Lake Marina features four campgrounds with roughly 144 campsites, serving RV users and traditional campers alike. The resort is further supplemented by a 12-room hotel, providing indoor accommodations for guests seeking an alternative to camping. Together, these elements create a multi-faceted revenue base across slip rentals, lodging and ancillary services tied to outdoor recreation.
Following the acquisition, TopSide Marinas plans a series of capital improvements and operational enhancements at the property. The company intends to increase total slip capacity, which would allow the marina to serve more boaters during peak season. It also plans to add roofs to currently uncovered docks, an upgrade that can enhance user experience and help protect vessels.
Future plans include the introduction of a dedicated service department, expanding the marina’s on-site capabilities for boat maintenance and repair. TopSide Marinas also expects to enlarge both the boat rental operation and associated parking areas to better handle visitor volumes. These changes are aimed at accommodating additional public boat launches and improving overall circulation around the facility.
Michael McMahon, regional vice president of TopSide Marinas, described Rathbun Lake Marina as a well-maintained asset with strong local management and a loyal customer base. The Iowa acquisition follows the company’s recent move into Michigan through the purchase of Bay Harbour Marina, signaling a continued push to grow its footprint across multiple Midwestern states.
By integrating Rathbun Lake Marina into its portfolio and committing to further investment at the site, TopSide Marinas is positioning the property for incremental growth within the regional marina and resort market. The transaction underscores ongoing investor interest in recreational waterfront assets that combine dockage, lodging and outdoor amenities within a single destination.
