Blackstone Infrastructure announced yesterday that it has agreed to acquire Safe Harbor Marinas from Sun Communities in a $5.65 billion transaction. Safe Harbor owns and operates 138 marinas in the United States and Puerto Rico.
According to a statement from Blackstone, the transaction enhances Blackstone Infrastructure’s portfolio and reflects the strong momentum of the business, which has grown approximately 40% year-over-year since inception and managed $55 billion in assets as of Dec. 31.
“Marinas benefit from key, long-term thematic tailwinds, including the growth of travel and leisure as well as population inflows into coastal cities,” Heidi Boyd, senior managing director in Blackstone’s infrastructure business, said in the statement. “We believe Safe Harbor is the best-positioned company in this sector, and we look forward to working with their terrific team to invest behind their existing marinas and to expand their footprint.”
Safe Harbor Marinas is headquartered in Dallas. In 2020, Sun Communities acquired Safe Harbor for $2.11 billion.
