A private yacht rental company in Las Vegas has announced that it will be selling its boats and property at a special auction.
Annapolis, a luxury private yacht owner, said in a statement that the sale would be held on October 28.
Annapolis Yachts CEO Brian Cates told The Verge that the firm’s “pilots, crew and owners are extremely proud of their accomplishments.”
“We are excited to see our fleet and the unique history of Annapolis Yacht Club be recognized at this historic moment,” Cates said.
“The Yacht Owners Club is very grateful for the opportunity to be part of this special event and we look forward to celebrating with our guests.”
Annapolis was founded in 1976 by David Henley and James R. Johnson.
Henley bought the yacht, which was listed on the California listing website for $7 million in 2012, in 2008.
The firm, which operates four boats, is a subsidiary of the U.S. Marine Corps.
It is owned by former New York City Mayor Michael Bloomberg, who is also the founder and CEO of Bloomberg L.P., which is the world’s largest private equity firm.
The Annapolis group is owned and managed by David and Mary Henley, who are known for their philanthropic efforts and their private-equity investments.
The group’s website says that the Henleys have donated more than $100 million to charitable causes.
In 2013, Annapolis won a $25 million federal grant to create a $30 million private-private-resort hotel in Las Cruces, New Mexico, where it has operated a private yacht club since 1997.
The Las Cruises site has more than 3,000 guests.
Annabeth Henley was also named CEO of the Las Cruisers International Association, a non-profit group that promotes the private chartering industry.
The organization has been involved in a number of projects that benefit the public, including a $500 million project in 2016 to redevelop the former Las Vegas International Airport site.
The Henleys are the first to sell private boats since the start of the current private-reserve craze in 2012.
Private-equi-ties are gaining in popularity as more and more Americans seek to rent boats and homes for vacations and other spending.